________ natural monopolies is a commonly used, potential solution to the problems presented by natural monopolies
A) Breaking up firms that are
B) Regulating
C) Outlawing price discrimination by
D) Refusing to grant patents to
E) Giving incentives to firms to become
B
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Suppose that in a month the price of movie rentals decreases from $3.25 to $3. At the same time, the quantity of movie rentals demanded increases from 100 to 120. The price elasticity of demand for movie rentals (calculated using the midpoint formula) is:
A. zero. B. inelastic. C. unit elastic. D. elastic.
The law of demand
A. is only an assumption that cannot be tested. B. does not apply to scarce goods. C. only applies to necessities, not luxuries. D. is consistent with human behavior in the world.
A tax whose burden, expressed as a percentage of income, increases as income increases is
A. a progressive tax. B. an ability-to-pay tax. C. a regressive tax. D. a proportional tax.
Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080If they are given 2 days to work how many scarves could Alexandra make if she spent the whole time knitting scarves?
A. 8 B. 12 C. 24 D. 16