When supply increases and the supply curve shifts to the right, equilibrium price and equilibrium quantity will both increase.
Answer the following statement true (T) or false (F)
False
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When producing a good creates pollution, an external cost, and the government imposes a tax equal to the marginal external cost, then
A) the amount of output moves farther away from the efficient amount. B) transaction costs will be high. C) the efficient amount of the good will be produced. D) property rights must have already been established.
Marginal profit is equal to
A) marginal revenue minus marginal cost. B) marginal revenue plus marginal cost. C) marginal cost minus marginal revenue. D) marginal revenue times marginal cost. E) marginal revenue divided by marginal cost.
Which is not a factor that makes cognitive mistakes more likely?
a. uncertainty. b. time pressure. c. repetition. d. large number of choices.
Inequality within countries has been __________, and inequality between countries has been _________ in recent decades.
A. increasing; decreasing B. increasing; increasing C. decreasing; increasing D. decreasing; decreasing