Refer to the information provided in Figure 3.18 below to answer the question(s) that follow.
Figure 3.18Refer to Figure 3.18. The market is initially in equilibrium at Point A. If demand shifts from D1 to D2 and there is an excess demand of 150 million pounds of burritos, the price of burritos would be
A. $1.50.
B. $3.00.
C. $4.00.
D. $6.00.
Answer: B
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The second-order condition for maximizing net benefits is:
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Figure 6-8
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A. 1 B. 2 C. 3 D. 4