The figure above shows the market for transportation services, which produces an external cost due to the air pollution that is created
If the market for transportation services is competitive and unregulated, the equilibrium quantity is ________ and the equilibrium price is ________. A) 120; $14
B) 120; $8
C) 80; $12
D) 80; $6
B
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The above figures show the market for HD televisions. If cable television providers lower the price of providing HD cable service, which figure shows the effect of this change?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the figures represent this change.
The above figure shows the cost curves of a profit-maximizing perfectly competitive firm. If the price equals $7,
a) how much will the firm produce? b) how much is the firm's average total, average variable, and marginal costs? c) how much is the firm's total, total variable, and total fixed costs? d) how much is the firm's total revenue and economic profit? e) what will happen in this market in the long run?
An example of a capability considered in the capabilities approach would be:
A. being able to afford appropriate healthcare required for a healthy life. B. to have adequate food and shelter. C. to be able to afford to travel freely. D. to have the ability to purchase a luxury item you really want.
If the price of train rides is 1 and the price of food is 10, and the MRS of food for train rides expressed by Karl is 5, is Karl a utility maximizer? How do you know? If Karl is not maximizing, what should he do to improve his situation?
What will be an ideal response?