If the market for grapefruit is in equilibrium without any, Ask an Expert

Economics

If the market for grapefruit is in equilibrium without any outside intervention to change the equilibrium price:

a) total surplus is minimized.

b) there is some inefficiency.

c) a few mutually beneficial trades are missed.

d) consumer and producer surplus are maximized.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91707679

Have any Question?Write your Review or question?

Related Questions in Business Economics

Case studyobjectivesthis assessment item relates to course

Case Study Objectives This assessment item relates to course learning outcomes 1 and 4 as listed in the unit profile. Task description: In this task, you will build a case study based on the article: RBA decision 7th Aug ...

Briefly explain the meaning of the t-test for regression

Briefly explain the meaning of the t-test for regression analysis. How can the "rule of two" be used to evaluate t-ratios?

41 of the doctors in america are dentists if a random

41% of the doctors in America are dentists. If a random sample of size 826 is selected, what is the probability that the proportion of doctors who are dentists will be less than 40%?

Assignment presidential exampleson 3 august 1990 the united

Assignment: Presidential Examples On 3 August 1990, the United Nations Security Council passed Resolution 600 condemning the Iraqi invasion of Kuwait and demanding that Iraq unconditionally withdraw all forces deployed i ...

British environmentalist kate humble recently made the

British environmentalist Kate Humble recently made the following statement: "Everyone's going to hate me and call me a middle-class bitch but I'm past caring because I'm so incensed. Food waste is endemic but we don't va ...

Let x be a continuous random variable suppose that we know

Let X be a continuous random variable. Suppose that we know that Pr(X 5), and how do you know? (Hint: X is not necessarily normally distributed, but you can still consider how much area is under the curve, no matter the ...

Suppose the production function for a firm is given

Suppose the production function for a firm is given by: q=4L 0.5 K 0.25 . In the short run, the firm has 16 units of capital. Find the Marginal Product of Labor (MP L ). Fill in the appropriate numbers in the function ...

A company is to hire two new employees they have prepared a

A company is to hire two new employees. They have prepared a final list of twelve candidates, all of whom are equally qualified. Of these twelve candidates, seven are women. If the company decides to select two persons r ...

Calculating tax incidencesuppose that the us government

Calculating tax incidence Suppose that the U.S. government decides to charge wine producers a tax. Before the tax, 40 billion bottles of wine were sold every year at a price of $5 per bottle. After the tax, 34 billion bo ...

You are the manager of a firm that produces and markets a

You are the manager of a firm that produces and markets a generic type of soft drink in a competitive market. In addition to the large number of generic products in your market, you also compete against major brands such ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert