Multiple Choice
In May 2008, Switzerland co-hosted the international soccer tournament Euro 2008. At that time, the Swiss potato industry association had been warning there could be a fry shortage because there was a potato shortage. The shortage meant that in the French fry market
A) the price for French fries would be higher.
B) the price for French fries would be lower.
C) if the efficient quantity of fries is produced, total surplus would be minimized.
D) if the inefficient quantity of fries is produced, total surplus would be maximized.
Correct Answer:
Verified
Correct Answer:
Verified
Q171: When a market is in equilibrium, the
Q172: Asian women lag far behind the West
Q173: Competitive markets with no external costs or
Q174: All of the following statements about marginal
Q175: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the figure
Q177: Colorado State University allocates 10,000 tickets for
Q178: The opportunity cost to the firm of
Q179: Often people trying to withdraw money from
Q180: The table below shows the supply schedules
Q181: Although the efficient quantity to produce of