In Figure 32.1, at the market price-quantity combination where production is unlimited, and the government buys the excess, the consumer surplus is Image
A. P*AC.
B. HP*C.
C. HpfloorBG.
D. APfloorB.
Answer: D
Economics
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A massive selling of domestic currency assets by domestic and foreign financial investors is called:
A. a speculative attack. B. a currency revaluation. C. protectionism. D. a currency devaluation.
Economics
A perfectly competitive firm will hire workers up to the quantity at which the wage rate equals the
A) marginal revenue product of labor. B) marginal factor cost of labor. C) price of the extra output produced. D) average physical product of labor.
Economics
Explain: “The land value tax is the economist’s ideal; it is neutral in its economic effects.”
What will be an ideal response?
Economics
In a game, what is meant when a player is said to have a dominant strategy?
What will be an ideal response?
Economics