The answer is: "A reduction in consumers' surplus." What is the question?
A) What is an effect of a rise in price?
B) What is an effect of a tariff?
C) What is an effect of a quota?
D) a and b
E) a, b, and c
E
Economics
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Explain what would happen to the equilibrium price and quantity of oranges if the supply of oranges increased while the demand for oranges decreased
What will be an ideal response?
Economics
The interest rate is determined purely by market forces, and not by government involvement.
Answer the following statement true (T) or false (F)
Economics
Using the above table, we see that when output is 4 units, average variable cost equals
A. $6.00. B. $3.50. C. $14.00. D. $24.00.
Economics
If the wage rate were $25, how many workers would be hired?
Economics