Suppose Florida issues an alligator hunting permit to Jackson, who values an alligator hunt at $2,500, instead of Oliver, who values an alligator hunt at $4,000, and alligator hunting permits are allowed to be bought and sold in a secondary market
If Jackson and Oliver agree on a price for Jackson to transfer the permit to Oliver, society would capture ________ cooperative surplus. A) an additional $1,500 of
B) no additional
C) an additional $6,500 of
D) The additional cooperative surplus captured by society would depend on the negotiated price of the permit.
A
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The figure above shows the market for tires. According to the figure, the government collects ________ per month in total tax revenue
A) $600 million B) $1,200 million C) $2,000 million D) $900 million E) None of the above answers is correct.
Either a price floor or a price ceiling will result in a smaller quantity exchanged than if the price was at its equilibrium level
a. True b. False Indicate whether the statement is true or false
Refer to the accompanying figure. Growing 1,000 bushels of wheat and no bushels of corn each year is:
A. efficient and attainable. B. inefficient but attainable. C. inefficient and unattainable. D. efficient but unattainable.
In the graph below, as the consumer moves from indifference curve 1 to 3, his 
A. real and nominal income are falling, but he can buy more anyway. B. real income is falling, and his nominal income is rising. C. real income is falling and nominal income is constant. D. real income is rising and his nominal income is constant.