Question: need help with 1 and 5 Question 1 (1 point) Which one is not true about a market clearing price? a) Consumer's surplus is maximized

need help with 1 and 5
need help with 1 and 5 Question 1 (1 point) Which one
is not true about a market clearing price? a) Consumer's surplus is

Question 1 (1 point) Which one is not true about a market clearing price? a) Consumer's surplus is maximized Ob) Social welfare (consumers' surplus + seller's surplus) will be maximized O c) it is where a demand curve meets a supply curve d) This is an equilibrium price in a market Oe) if the price is set at a higher price than the equilibrium price, seller's surplus will be increased Question 5 (1 point) which one is true about economies of scope? a) It is more a modern concept than economics of scale Ob) It is more about bulk production Oc) it is applied to one product d) cost reduction by standardization Oe) total cost reduction beyond the certain point of production

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!