Refer to the table above. If, at a price of $4 per loaf, the market supply of bread is 75 loaves, Seller 2's supply is:
A) 30 units. B) 35 units. C) 55 units. D) 20 units.
D
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Montana cattle ranchers are complaining about mountain state sheep ranchers whose animals are eating too much grass on the open range. The sheep ranchers claim that the cattle are eating too much of the grass. This is an example of
a. an external benefit. b. the reciprocal nature of externalities. c. the principal agent problem. d. a situation in which strict liability would be the more efficient solution.
How do labor unions influence wage rates?
What will be an ideal response?
You do some research and find for a driver of your age and gender the probability of having an accident that results in damage to your automobile exceeding $100 is 1/10 per year. Your auto insurance company will reduce your annual premium by $40 if you will increase your collision deductible from $100 to $250. Should you? Explain.
What will be an ideal response?
Which of the following can cause a change in supply?
A. Changes in demand B. A technological advance C. Changes in tastes and preferences D. Changes in the price of the good or service