ECON 2010 Study Guide - Midterm Guide: Economic Equilibrium, Delta Air Lines, Economic Surplus

• School: CU-Boulder
• Department: Economics
• Course: ECON 2010
• Professor: All

Document Summary

Version a: i am a firm that needs to dump my toxic waste in a stream, only one stream. I know that after i do it, i will be sued by the federal government and forced to pay damages in the sum of total lost consumer"s surplus to everyone who fished at the site before i dumped. Figure: bicycles and radishes ii: (figure: bicycles and radishes ii) look at the figure bicycles and radishes ii. The country depicted in this figure is operating at point m. it can achieve production at point i if it increases efficiency: true, false. It depends: rapidly increasing health costs have been a major political concern since at least 1992. Suppose the government sets the maximum price to see a doctor at to control rising health costs. Before this imposition, the price was , the market equilibrium price.