Author Question: In the supply-demand models to analyze the wheat market, we assume that wheat sold by different ... (Read 74 times)

EAugust · **on:** Jul 1, 2018

In the supply-demand models to analyze the wheat market, we assume that wheat sold by different sellers is largely the same. We make this assumption

A) to test the model.
B) to easily predict the market price.
C) to simplify the model while keeping important details.
D) to avoid the complexities in the real world.

Question 2

Sally is shopping for textbooks at the beginning of the semester. What is one reason she might decide to not purchase a textbook?

A) Her expected producer surplus is positive.
B) Her expected consumer surplus is negative.
C) Her expected consumer surplus is positive.
D) Her expected profits are positive.