An efficient allocation of resources maximizes a. consumer surplus. b. producer surplus. c. consumer surplus plus producer
Question:
An efficient allocation of resources maximizes
a. consumer surplus.
b. producer surplus.
c. consumer surplus plus producer surplus.
d. consumer surplus minus producer surplus.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
OTIENO OBADO
I have a vast experience in teaching, mentoring and tutoring. I handle student concerns diligently and my academic background is undeniably aesthetic
4.30+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
MCQ questions: 1. An increase in oil prices, such as the oil shocks in the 70s, lead to _______ thereby causing ________ a movement along the AS curve; cost-push inflation a leftward shift in the AS...
-
Multiple Choice Questions 1. Jen values her time at $60 an hour. She spends 2 hours giving Colleen a massage. Colleen was willing to pay as much at $300 for the massage, but they negotiate a price of...
-
Review the concept of externalities from Chapter 5, page 148. If a market is a monopoly, will a negative externality in production always lead to production beyond the level of economic efficiency?...
-
Write a program that displays the color study shown at right, which gives Albers squares corresponding to each of the 256 levels of blue (blue-to-white in row major order) and gray (black-to-white in...
-
A heart pacemaker is designed to operate at 72 beats/min using a 7.5-F capacitor in a simple RC circuit what value of resistance should be used if the pacemaker is to fire (capacitor discharge) when...
-
List and explain the roles of governments in our economy.
-
What do you know about the mathematical value of a project's internal rate of return under each of the following conditions? a. The present worth of the project is greater than 0 . b. The present...
-
Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2014 sales forecast is as follows. Quarter HD-240 1 ......... 5,000 2 ......... 7,000 3 ......... 8,000 4 .............
-
Multiple Choice Question Managers may choose to retain an unprofitable product line because it Blank______. Multiple choice question. absorbs a share of common fixed costs is an alternative to a...
-
When a market is in equilibrium, the buyers are those with the _________ willingness to pay and the sellers are those with the _________ costs. a. highest; highest b. highest; lowest c. lowest;...
-
Isabelle values her time at $60 an hour. She spends 2 hours giving Jayla a massage. Jayla was willing to pay as much as $300 for the massage, but they negotiated a price of $200. In this transaction,...
-
What are the characteristics of an effective slogan?
-
Let -(6x+3) f(x) = 3x 3x if if x > 1 if x < 1 if -1x1 if x > 1 Find a formula for f'(x). Note: f(x) is differentiable at x= -1, but is NOT differen tiable at x = 1. Can you see why that is so? if x <...
-
Discuss the importance of taxation in the Philippines. Discuss the relevance of Section 6. Article II, of 1987 Philippine Constitution in the current campaign period. Discuss whether Agrarian...
-
ZeroLeverage Co is a manufacturing firm. The company generates an EBIT of $250,000 per year and forever. ZeroLeverage Co will always distribute its earnings as dividends to its shareholders....
-
Explain briefly the concept of business plaining? What are possible partners in coming year more sustainable ? 2.2.1 Business Planning For the purpose of this assessment, the different sections of...
-
Explain how the Canadian and U.S. dividends are taxed when received by an individual.? Someone holds a stock portfolio consisting of Canadian equities (shares of Canadian public corporations) and...
-
The Consortium for Advanced ManufacturingInternational (CAM-I) is an international consortium of companies, consultancies, and academics that have elected to work cooperatively in a precompetitive...
-
Problem 3.5 (4 points). We will prove, in steps, that rank (L) = rank(LT) for any LE Rnxm (a) Prove that rank (L) = rank (LTL). (Hint: use Problem 3.4.) (b) Use part (a) to deduce that that rank(L) =...
-
Some employers offer tuition reimbursement for their employees who wish to further their education. Do a Web search to find a list of companies that contribute to tuition for their employees. Do you...
-
The tiny Kingdom of Arugula has five residents, and the following table lists the annual income of each of these people. Fill in the table and draw a Lorenz curve showing the distribution of income...
-
By using the data in the following table, create two graphs. The first graph should plot the Lorenz curves for left-handed people and right-handed people. The second graph should plot the Lorenz...
-
2. Given the following Bond Table calculate the bond premium (cost) for a project with a bid price of $5,875,500 First: $100,000 $7.40/$1,000 Next: $400,000 $7.20/$1,000 Next: $2,000,000 $5.10/$1,000...
-
4. Kathy notices smoke coming out from under the hood of her car. She has the car towed to a mechanic, who determines that a valve cover gasket is leaking. She instructs him to make the necessary...
-
Sam's Souvenirs, Inc. sells souvenirs for $25 each. Sam's pays rent of $155 per month. Its raw materials cost $8 and its direct labor costs $6 for each souvenir. Two of Sam's recent electrical...
Study smarter with the SolutionInn App