This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose a negatively sloped demand curve and a positively sloped supply curve intersect at a price ... (Read 18 times)

effaey

  • Full Member
  • ***
  • Posts: 153
on: Oct 12, 2022
Suppose a negatively sloped demand curve and a positively sloped supply curve intersect at a price and quantity combination of $100 and 600 units of the good. But suppose that producers actually produce and sell 610 units. What can we correctly say about market efficiency in this case?
◦ The production and consumption of the additional 10 units of the good increases total economic surplus and increases market efficiency.
◦ The value placed on the final 10 units of the good by consumers exceeds the additional costs associated with their production - this market is not efficient.
◦ The value placed on the final 10 units of the good by consumers is less than the additional costs associated with their production - this market is not efficient.
◦ This market is not efficient because quantity demanded for the good exceeds quantity supplied.
◦ This market is efficient because economic surplus is maximized as production and consumption increase simultaneously.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by effaey on Oct 12, 2022

nora9826

  • Full Member
  • ***
  • Posts: 155
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


effaey

  • Member
  • Posts: 153
Reply 2 on: Oct 12, 2022
Gracias!

anyusername12131

  • Member
  • Posts: 327
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Common sites of amputation. (A) Upper extremities. (B) Lower extremities. The surgeon determines th Common sites of amputation. (A) Upper extremities. (B) Lower extremities. The surgeon determines th
Unregulated populations "J-shaped curve" Unregulated populations "J-shaped curve"
Minerals are nonrenewable resources in limited supply Minerals are nonrenewable resources in limited supply
The Lorenz Curve for the United States, 2009 The Lorenz Curve for the United States, 2009
IQ scores form what mathematicians call a normal distribution "bell curve" IQ scores form what mathematicians call a normal distribution "bell curve"
A highway curve of radius 80 m is banked at 45°. Suppose that an ice storm hits, and the ... A highway curve of radius 80 m is banked at 45°. Suppose that an ice storm hits, and the ...
Video: Effect of blood chemistry - stimuli, hyperventilation response and hypoventilation response

For a complete list of videos, visit our video library