Author Question: Suppose biochemists discover an enzyme that can double the amount of ethanol that may be derived ... (Read 39 times)

audie · **on:** Jul 1, 2018

Suppose biochemists discover an enzyme that can double the amount of ethanol that may be derived from a given amount of biomass. Based on this technological development, we expect the:

A) supply curve for ethanol to shift leftward.
B) supply curve for ethanol to shift rightward.
C) demand curve for ethanol to shift leftward.
D) demand curve for ethanol to shift rightward.

Question 2

Refer to Figure 9.3. If the market is in equilibrium, the consumer surplus earned by the buyer of the 100th unit is

A) 0.50.
B) 0.75.
C) 1.50.
D) 2.00.
E) 2.75.