Heavily taxed items with inelastic short-run demand curves place most of the tax burden on ______.
a. sellers
b. government
c. society at large
d. buyers
d. buyers
Economics
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At an equilibrium price, quantity demanded
A. exceeds quantity supplied. B. equals quantity supplied. C. is less than quantity supplied. D. Any of the above is possible.
Economics
Refer to Figure 4-1. If the market price is $3.50, what is the consumer surplus on the first ice cream cone?
A) $0 B) $0.50 C) $3.50 D) $9.00
Economics
If two variables B and V are negatively correlated, B ________ when V ________
A) goes up; goes down B) goes up; goes up C) goes down; goes down D) remains unchanged; goes down
Economics
Refer to the above table. How many workers will this firm hire if the weekly wage rate is $900?
A) 26 B) 27 C) 28 D) 29
Economics