A cost imposed on someone who is neither the consumer nor the producer is called a
a. corrective tax.
b. command and control policy.
c. positive externality.
d. negative externality.
d
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A shoe-store having a BOGO (buy one get one free) sale is what type of price discrimination?
A. First-degree price discrimination. B. Second-degree price discrimination. C. Third-degree price discrimination. D. It is not price discrimination.
All of the following lead to more rapid economic growth EXCEPT
A) restricting international trade. B) encouraging higher rates of saving. C) supporting more research and development. D) encouraging higher quality education.
The marginal cost of educating a student is $30,000, and this cost is independent of the number of students. The figure above shows the marginal private benefit that a student receives from education
If schools are competitive, how many students are enrolled? A) zero B) 20,000 C) 50,000 D) It depends on the demand.
The price of a good always changes when
A) either a shortage or a surplus occurs. B) quantity demanded and quantity supplied are constant. C) there is an increase in demand and an increase in supply. D) there is a decrease in demand and a decrease in supply.