Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than the 1000 (type B) people. Type A Demand QD = 100 ? P Type B Demand QD = 50 ? P Where Q measures the quality of flood control. If the price of a unit of flood control is $100,000 and the citizens of Toadhop did not work together the amount
of flood control purchased would be
a. 0
b. 10
c. 25
d. 70
a
Economics
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When the Federal Reserve buys new government bonds, it is borrowing from the government
a. True b. False
Economics
Beginning from full-employment equilibrium, illustrate graphically how each of the following would impact the economy
a. the short-run impact of an unanticipated decrease in the money supply b. the long-run impact of an unanticipated decrease in the money supply
Economics
When a firm is operating at an efficient scale,
a. average variable cost is minimized. b. average fixed cost is minimized. c. average total cost is minimized. d. marginal cost is minimized.
Economics
About one out of every ________ white children under the age of 18 is poor.
Fill in the blank(s) with the appropriate word(s).
Economics