Multiple Choice
The aggregate gains from trade in a market is equal to
A) consumer surplus plus profit
B) producer surplus plus consumer expenditure
C) the sum of consumers' and producers' surpluses
D) total revenue plus consumer surplus
Correct Answer:
Verified
Correct Answer:
Verified
Q46: Supply curves are:<br>A)orthogonal to demand curves.<br>B)negatively sloped.<br>C)positively
Q47: A Walrasian auctioneer:<br>A)seeks the highest price a
Q48: Harolds' is one of many identical firms
Q49: The efficient scale of production is<br>A)the minimum
Q50: Andrew's demand for fish is: Q<sub>A</sub>=12- 3P.
Q52: A necessary condition for an industry to
Q53: Which of the following is not assumed
Q54: The short- run competitive equilibrium is efficient
Q55: In the long run equilibrium:<br>A)price is equal
Q56: When referring to demand, the extensive margin