A shortage results when a
a. nonbinding price ceiling is imposed on a market.
b. nonbinding price ceiling is removed from a market.
c. binding price ceiling is imposed on a market.
d. binding price ceiling is removed from a market.
c
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In the figure above, when the market is in equilibrium, marginal benefit ________ marginal cost, so the quantity of pizza produced is ________
A) equals; efficient B) exceeds; efficient C) is below; efficient D) is below; not efficient E) exceeds; not efficient
The government should set the price for natural monopolies at their:
A. average total cost. B. marginal cost. C. average variable cost. D. fixed cost.
An increase in the money wage rate shifts the SAS curve
What will be an ideal response?
The World Trade Organization was created to
a. provide preferential treatment for developing-country trade b. incorporate environmental protection into trade agreements c. provide a set of rules under which regional trade arrangements would operate d. strengthen the international regime of rules for the conduct of foreign trade e. all of the above