The budget line should swivel to the right if
A) The price of ice cream cones went up
B) the price of ice cream cones went down
C) the price of ice cream sandwiches went up
D) the price of ice cream sandwiches went down
B) the price of ice cream cones went down
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The above figures show the market for hamburger meat. Which figure(s) shows the effect of an increase in the number of people who eat hamburger meat?
A) Figure A B) Figure B C) Figure C D) Figures A and C
For the affected individuals, pecuniary externalities can be as harmful as technological externalities
a. True b. False
As more bananas are consumed, other things constant, marginal utility tends to decrease at:
a. the same rate for all people. b. the same rate for all goods for a given person. c. the same rate for all people. d. different rates for different people and for other goods. e. different rates for different people, but at the same rate as other goods.
If input prices fall, it will lower the cost of production, causing the supply curve to shift to the right
a. True b. False Indicate whether the statement is true or false