From 1998 to 2010, the cost of electricity produced with nuclear power has ________, and the cost of electricity produced with solar power has ________.
A. increased; increased
B. increased; decreased
C. decreased; increased
D. decreased; decreased
Answer: B
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Changes in all of the following will shift the demand curve for labor except
A) the real wage rate. B) the quantity of capital. C) the technology of production. D) the skill level of workers.
If Greg uses a special glue to make model planes that he sells and the price of his model planes increases, then one would expect that the equilibrium price of the special glue would _______ and the equilibrium quantity would _________
a. increase; decrease b. decrease; increase c. increase; increase d. decrease; decrease e. increase; indeterminant
Consider a firm that uses only one fixed input and one variable input. a . Explain how this firm's TC, TVC, and TFC curves will be affected by a government tax on the fixed input. b. Explain how this firm's TC, TVC, and TFC curves will be affected by a government tax on the variable input
When a country abandons a no-trade policy, adopts a free-trade policy, and becomes an exporter of a particular good,
a. consumer surplus increases and total surplus increases in the market for that good. b. consumer surplus increases and total surplus decreases in the market for that good. c. consumer surplus decreases and total surplus increases in the market for that good. d. consumer surplus decreases and total surplus decreases in the market for that good.