Crude oil price controls improved efficiency in the oil industry
Indicate whether the statement is true or false
F Crude oil price controls discouraged exploration and worsened industry efficiency.
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In reference to funding industrywide advertising, if the majority of managers free ride, which of the following is likely to occur?
A) The industrywide marginal benefit of advertising will fall below its marginal cost. B) The industry will maximize its joint profit. C) The industrywide marginal benefit of advertising will equal its marginal cost. D) The industrywide marginal benefit of advertising will exceed its marginal cost.
Government agencies to which the national health care program assigns the task of assisting individuals, families, and small businesses in identifying health insurance policies to purchase are known as
A) health care exchanges. B) markets for health care. C) health insurance regulations. D) health insurance mandates.
Trade deflection is an act that
A) decreases the amount of international trade in the world. B) increases the amount of international trade in the world. C) has no impact on the amount of international trade in the world. D) is illegal among all countries in the world.
Refer to the diagram, where S d and D d are the domestic supply and demand for a product and P c is the world price of that product. With a per-unit tariff of P c P t , the total amount of tariff revenue collected on this product will be:
A. P a P t times wy.
B. P c P a times x.
C. P c P t times wy.
D. P c P t times z.