Equilibrium price is _____ and equilibrium quantity is ______ units.
A. $12; 20
B. $12; 30
C. $20; 20
D. $20; 30
D. $20; 30
Economics
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In Figure 8-1, point E represents:
a. recession and a peak. b. peak and a trough. c. recovery and a peak. d. recession and a trough.
Economics
Which of the following can be classified as a regressive tax?
a. Federal corporate income tax. b. Federal personal income tax. c. Federal gasoline tax. d. All of these.
Economics
Externalities can be corrected by each of the following except
a. self-interest. b. moral codes and social sanctions. c. charity. d. normal market adjustments.
Economics
Refer to the graph shown. If the monopolist produces at the output level at which price equals marginal cost, it will:
A. maximize profits. B. incur a loss. C. earn zero profits. D. earn positive profits but not maximum profits.
Economics