Multiple Choice
PlayStations and PlayStation games are complementary goods.A technological advance in the production of PlayStations will
A) increase consumer surplus in the market for PlayStations and decrease producer surplus in the market for PlayStation games.
B) increase consumer surplus in the market for PlayStations and increase producer surplus in the market for PlayStation games.
C) decrease consumer surplus in the market for PlayStations and increase producer surplus in the market for PlayStation games.
D) decrease consumer surplus in the market for PlayStations and decrease producer surplus in the market for PlayStation games.
Correct Answer:
Verified
Correct Answer:
Verified
Q27: We can say that the allocation of
Q50: The "invisible hand" refers to<br>A)the marketplace guiding
Q51: Total surplus is equal to<br>A)value to buyers
Q52: Figure 7-26 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-26
Q53: If the United States changed its laws
Q54: Figure 7-21 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-21
Q56: If the current allocation of resources in
Q57: Figure 7-22 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-22
Q58: Total surplus in a market is equal
Q59: Figure 7-24 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 7-24