Raisin bran and milk are complementary goods

Assignment Help Business Economics
Reference no: EM13853865

Raisin bran and milk are complementary goods. A decrease in the price of raisins will:

a. decrease producer surplus in the market for milk.

b. increase producer surplus in the market for milk.

c. decrease consumer surplus in the market for raisin bran and increase producer surplus in the market for milk.

d. decrease consumer surplus in the market for raisin bran and decrease producer surplus in the market for milk.

Reference no: EM13853865

Questions Cloud

Unit on good creates deadweight loss : Suppose a tax of $.10 per unit on a good creates a deadweight loss of $100. If the tax is increased to $0.30 per unit, the deadweight loss from the new tax would be:
Tax increases-the governments tax revenue rises then falls : When a good is taxed, the tax revenue collected by the government equals the decrease in the welfare of buyers and sellers caused by the tax. As the size of a tax increases, the government's tax revenue rises then falls. Economists argue that restric..
How does financial performance measurement help accountants : How does financial performance measurement helps accountants or managers to make decisions? What is the difference between horizontal, trend, vertical and ratio analysis?
Write feedback- the national labor relations act : Need feedback to given posts below-The National Labor Relations Act of 1935 established that employees have the right to join a union, collectively bargain through chosen representatives, go on strike, and also refrain from union activity (Seaquis..
Raisin bran and milk are complementary goods : Raisin bran and milk are complementary goods. A decrease in the price of raisins will:
Purchase particular type of cell phone : Suppose Katie, Kendra, and Kristen each purchase a particular type of cell phone at a price of $80. Kate's willingness to pay was $100, Kendra's willingness to pay was $95, and Kristen's willingness to pay was $80. For the three individuals together,..
How much gain or loss resulted from the sale : A person owned 400 shares of XYZ common stock which cost $20,000. XYZ then had a 2-for-1 stock split. After the split, the person sold 100 shares for $10,000. How much gain (or loss) resulted from the sale?
The higher countrys tax rates : The higher a country's tax rates, the more likely that country will be:
Suppose the tax on liquor is increased : Suppose the tax on liquor is increased so that the tax goes from being a "medium" tax to being a "large" tax. As a result, it is likely that:

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd