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The area below the price and above the supply curve measures the producer surplus in a market.
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B.the rate at which demand changes when price changes
C.how responsive the quantity demanded is to changes in price
D.the percentage-slope of the demand curv
E.None of these correctly defines what price elasticity of demand measures.
A、C, A, B.
B、B, A, C.
C、A, B, C.
D、They are of equal elasticity.
E、More information is needed.
A、A, B, C.
B、B, C, A.
C、B, A, C.
D、C, A, B.
E、none of the above.
A、a. is its marginal revenue curve, but only the portion where marginal revenue exceeds marginal cost.
B、b. is its marginal cost curve.
C、c. is its marginal cost curve, but only the portion above the minimum of average total cost.
D、d. is its marginal cost curve, but only the portion above the minimum of average variable cost.
Home’s demand curve for wheat is D = 100 - 20P. Its supply curve is S = 20 + 20P. Now add Foreign, which has a demand curve D* = 80 - 20P and a supply curve S* = 40 + 20P. Home imposes a specific tariff of 0.5 on wheat imports. a.Determine the effect of the tariff on the welfare of each of the following groups: (1) Home import-competing producers; (2) Home consumers; (3) the Home government. b. Show graphically and calculate the terms of trade gain, the efficiency loss, and the total effect on welfare of the tariff.
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