A price support set above the equilibrium price does which of the following?
i. decreases producer surplus
ii. decreases consumer surplus
iii. decreases the marginal cost of the last unit produced
A) i and ii
B) i and iii
C) ii and iii
D) i, ii, and iii
E) ii only
E
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In the long run, an increase in the quantity of money leads to
A) a smaller percentage increase in the real interest rate. B) a smaller percentage increase in the price level. C) an equal percentage increase in the price level. D) no effect on the price level or on real GDP. E) an equal percentage increase in the real interest rate.
What is the typical effect of government actions, such as laws and regulations, that impose barriers of entry to oligopolistic markets?
a. The actions benefit consumers by lowering prices on goods and services. b. The actions protect the quality of goods and services that are sold. c. The actions prevent the formation of monopolies. d. The actions encourage greater competition.
If this is a closed economy, the price of a TV will be ________.
A. $75 B. $175 C. $275 D. $125
How did the vulnerabilities in Asian economies lead to the Asian financial crisis of 1997-1998
What will be an ideal response?