4. The maximum that buyers are willing to pay for the 8-th unit of this product is (a) $4 (b) $12 (c) $18 (d) $22 (e) $24 05. The minimum that suppliers will accept for the twentieth unit of this product is (a) $2 (b) $8 (c) $12 (d) $18 (e) $22 06. Assuming that this market is at equilibrium, what is the "consumer's surplus" and producer's surplus? (a) consumer's surplus is $72; producer's surplus is $36 (b) consumer's surplus is $98; producer's surplus is $49 (c) consumer's surplus is $32; producer's surplus is $16 (d) consumer's surplus is $36; producer's surplus is $72 (e) consumer's surplus is $144; producer's surplus is $14
4. The maximum that buyers are willing to pay for the 8-th unit of this product is (a) $4 (b) $12 (c) $18 (d) $22 (e) $24 05. The minimum that suppliers will accept for the twentieth unit of this product is (a) $2 (b) $8 (c) $12 (d) $18 (e) $22 06. Assuming that this market is at equilibrium, what is the "consumer's surplus" and producer's surplus? (a) consumer's surplus is $72; producer's surplus is $36 (b) consumer's surplus is $98; producer's surplus is $49 (c) consumer's surplus is $32; producer's surplus is $16 (d) consumer's surplus is $36; producer's surplus is $72 (e) consumer's surplus is $144; producer's surplus is $14
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter20: The Problem Of Adverse Selection Moral Hazard
Section: Chapter Questions
Problem 3MC
Related questions
Question
04. The maximum that buyers are willing to pay for the 8-th unit of this product is
(a) $4 |
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(b) $12 |
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(c) $18 |
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(d) $22 |
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(e) $24 |
05. The minimum that suppliers will accept for the twentieth unit of this product is
(a) $2 |
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(b) $8 |
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(c) $12 |
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(d) $18 |
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(e) $22
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06. Assuming that this market is at equilibrium, what is the "
(a) consumer's surplus is $72; producer's surplus is $36 |
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(b) consumer's surplus is $98; producer's surplus is $49 |
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(c) consumer's surplus is $32; producer's surplus is $16 |
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(d) consumer's surplus is $36; producer's surplus is $72 |
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(e) consumer's surplus is $144; producer's surplus is $14 |
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