If the government imposes a per-unit tax on sales of an industry's product, then we would expect
A. the supply curve in that industry would shift to the left.
B. the demand curve for that industry would shift to the right.
C. the demand curve for that industry would shift to the left.
D. the supply curve in that industry would shift to the right.
Answer: A
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Refer to the above table. The marginal utility of the 7th movie for Michael is
A. 35 units of utility. B. 435 units of utility. C. 20 units of utility. D. 15 units of utility.
Explain how a large number of firms in the industry and product heterogeneity affect the likelihood of cartel success.
What will be an ideal response?
If the United States has a trade deficit with China, then China must have
A) a trade surplus with countries other than the United States. B) a trade surplus with the United States. C) a trade deficit with countries other than the United States. D) a trade deficit with the United States.
Which of the following best describes the consumer optimum?
A. MUa/Pa = TUb/Pb B. MUa/Pa = MUb/Pb = . . . = MUz/Pz. C. change in TU/change in P = MU D. MUa/TUa = Pa