The slope of a straight line

A. is constant.
B. is not constant.
C. must first increase then decrease.
D. is always positive.


Answer: A

Economics

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Producer surplus

A. is the difference between the minimum price producers are willing to accept for a product and the higher equilibrium price. B. is the difference between the maximum price consumers are willing to pay for a product and the lower equilibrium price. C. rises as equilibrium price falls. D. is the difference between the maximum price consumers are willing to pay for a product and the minimum price producers are willing to accept.

Economics

Suppose that the demand for picture frames is highly inelastic, and the supply of picture frames is highly elastic. A tax of $1 per frame levied on picture frames will increase the price paid by buyers of picture frames by

a. less than $0.50. b. $0.50. c. between $0.50 and $1. d. $1.

Economics

Figure 18-2 Figure 18-2 shows the widget market before and after an excise tax is imposed. The tax per widget equals ____.

A. $5 B. $20 C. $25 D. $30

Economics

Input prices rise as entry occurs in an constant-cost industry.

Answer the following statement true (T) or false (F)

Economics