A paper mill discovers that burning old tires is a cheaper way to get power rather than using coal, and they adopt the new technology. Which of the following will likely happen in the market for paper?
A. The demand for paper will increase.
B. The supply of paper will increase.
C. The supplyfor paper will remain constant.
D. The supply for paper will decrease.
B. The supply of paper will increase.
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An indifference curve represents the collection of goods and services that an individual has no desire to consume
Indicate whether the statement is true or false
Refer to above figure. With free trade and no tariffs, what is the quantity of Widgets consumed domestically?
What will be an ideal response?
A car purchased by you is rival because:
a. you can prevent others from using your car. b. it has many competitors. c. your use of this car makes it unavailable for others. d. it is nonexcludable.
Other things the same, in which case is the quantity produced the highest?
a. There is one firm. b. There are two firms that successfully collude. c. There are two firms in Nash equilibrium. d. There are a very large number of firms.