The most likely complementary good for hot dogs would be:
A. tacos.
B. ketchup.
C. burgers.
D. pizza.
Answer: B
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Which of the following statements is true?
A) Although consumers reap some consumer surplus under a single-price monopoly, society is better off with optimal two-part tariff pricing. B) Of the three pricing schedules, single-price monopoly, an optimal two-part tariff, and perfect price discrimination, profit is highest under single-price monopoly pricing. C) Consumer surplus under perfect price discrimination is greater than under single-price monopoly pricing. D) Consumer surplus under an optimal two-part tariff is greater than that under single-price monopoly pricing.
Which of the following statements is FALSE?
A) When it comes to overall productive efficiency, compared to Japan, Germany and the rest of the European Union, the United States lags far behind. B) Sophisticated financial systems have given U.S. productive efficiency a boost. C) The United States' international competitive position has been helped by its long history of widespread entrepreneurship. D) Economic restructuring and investments in information technology have added to productive efficiency in the United States.
The short-run output expansion path is ________ in the relevant area.
A. upward sloping B. U-shaped C. horizontal D. a ray
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. Suppose that instead of a tax, the government uses standards to achieve the emission reductions, requiring that each company cut its original emissions in half rather than allowing each company to choose emissions based on their costs. Compared to the situation under the tax, Alpha would ________ and
Beta would ________. A. have to further reduce emissions; have to further reduce emissions B. be able to increase emissions; have to further reduce emissions C. be able to increase emissions; be able to increase emissions D. have to further reduce emissions; be able to increase emissions