Suppose that a product benefits from a successful advertising campaign. The result is that:
A. the demand for the product increases.
B. the demand for the product decreases.
C. the supply of the product increases.
D. the supply of the product decreases.
Answer: A
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The difference between a tariff and a quota is that the tariff revenue goes to the
A) domestic government. B) holder of the quota license. C) foreign government. D) domestic consumer. E) domestic producer.
Refer to Figure 15-18 to answer the following questions
a. What quantity will this monopoly produce and what price will it charge? b. Suppose the government decides to regulate this monopoly and imposes a price ceiling of $25. Now what quantity will the monopoly produce and what price will it charge? c. Will every consumer who is willing to pay the ceiling price of $25 be able to buy the product? Briefly explain.
Three possibilities are equally likely and have payoffs of $3, $6, and $9 . The expected value is:
a. $4 b. $5 c. $6 d. $7
Attaining higher and higher levels of air cleanliness causes
A) additional costs to rise to increasingly high levels.
B) larger and larger increases in per capita incomes.
C) additional costs to fall to lower and lower levels.
D) larger and larger marginal benefits to society.