Roads during the 1800s proved to be a preferred transportation alternative to railroads and thus competed successfully for profits
Indicate whether the statement is true or false
False
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Taxing firms that emit pollutants is one way to reduce pollution.
Answer the following statement true (T) or false (F)
The supply of oil is likely to be
a. inelastic in both the short run and long run. b. elastic in both the short run and long run. c. elastic in the short run and inelastic in the long run. d. inelastic in the short run and elastic in the long run.
If P = 3Qs + 3 represents market supply for a competitive industry and market demand is given by Qd = 31 - 1/3 P, the equilibrium price is:
A. $48. B. $10. C. $20. D. $15.
There is a 10% chance that you will have healthcare bills of $200,000; a 20% chance that you will have bills of $10,000; a 59% chance that you will have bills of $1,000; and an 11% chance of having bills of $0. What are your expected healthcare bills?
What will be an ideal response?