The factor that most often leads to underpricing and overuse of an economic resource is human greed.
Answer the following statement true (T) or false (F)
False
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
Pepsi and Coke have competed in the market for bottled water primarily on the basis of convenience and product differentiation as a means to avoid the negative effects on revenue that result from price competition
Indicate whether the statement is true or false
Economists use elasticity as a tool to measure
a. the relationship between people's attitudes and their income b. the relationship between people's willingness to supply a good and their willingness to demand that good c. people's sensitivity to changes in price or income d. the effect of changes in supply on people's willingness to demand goods e. the effect of changes in supply on the government's ability to tax
What is economic freedom and why is it important for economic growth?
What will be an ideal response?