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need help with 1 and 5 Question 1 (1 point) Which one is not true about a market clearing price? a) Consumer's surplus is maximized
need help with 1 and 5
Question 1 (1 point) Which one is not true about a market clearing price? a) Consumer's surplus is maximized Ob) Social welfare (consumers' surplus + seller's surplus) will be maximized O c) it is where a demand curve meets a supply curve d) This is an equilibrium price in a market Oe) if the price is set at a higher price than the equilibrium price, seller's surplus will be increased Question 5 (1 point) which one is true about economies of scope? a) It is more a modern concept than economics of scale Ob) It is more about bulk production Oc) it is applied to one product d) cost reduction by standardization Oe) total cost reduction beyond the certain point of production Step by Step Solution
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