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Author Question: Refer to Figure 9.3. If the government establishes a price ceiling of 1.00, total consumer and ... (Read 85 times)

yoooooman

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on: Jul 1, 2018
Refer to Figure 9.3. If the government establishes a price ceiling of 1.00, total consumer and producer surplus will be
 
  A) 1.50.
  B) 300.
  C) 450.
  D) 500.
  E) 600.

Question 2

The total cost of producing a given level of output is
 
  A) maximized when a corner solution exists.
  B) minimized when the ratio of marginal product to input price is equal for all inputs.
  C) minimized when the marginal products of all inputs are equal.
  D) minimized when marginal product multiplied by input price is equal for all inputs.


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chevyboi1976

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

B


yoooooman

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Reply #2 on: Jul 1, 2018
Thank you :)


chevyboi1976

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Reply #3 on: Jul 1, 2018
Happy to help you


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