Inflation rates over the last 40 years have generally:
A. decreased around the world.
B. increased around the world.
C. unchanged for developing nations and decreased for developed nations.
D. decreased for developing nations and increased for developed nations.
A. decreased around the world.
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Use the following graph of the market for milk to answer the question below.
In this market, the equilibrium price is ________ and equilibrium quantity is ________.
A. $28 per gallon; 150 million gallons B. $1.50 per gallon; 30 million gallons C. $1.50 per gallon; 28 million gallons D. $1.00 per gallon; 35 million gallons
If the demand curve for bottled water shifts rightward and the supply curve of bottled water shifts leftward, the equilibrium
A) price of bottled water definitely increases. B) price of bottled water definitely decreases. C) quantity of bottled water definitely increases. D) quantity of bottled water definitely decreases.
A country has several factories that emit sulfur dioxide. The main methods that the government can use to overcome the accompanying environment externalities include all of the following EXCEPT
A) cap-and-trade. B) mandating clean technology. C) subsidies. D) taxes.
Why do perfectly competitive firms maximize their profits by producing so that the price is equal to marginal cost, but monopolists maximize their profits by setting a price that is greater than marginal cost?
What will be an ideal response?