In Figure 5.7, assuming perfect competition, at MR3 there will be 
A. no pressure on the price to change.
B. short-run pressure on the price to rise.
C. short and long-run pressure on the price to rise.
D. long-run pressure on the price to rise.
Answer: A
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Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many clocks will Denmark gain compared to the "without trade" numbers?
A) 30 B) 100 C) 150 D) 900
Providing housing decreases the incentive for the poor to find their own.
A. True B. False C. Uncertain
Economists typically suggest three choices that allow a polluter to decide how to absorb most, or perhaps all, of the social costs of its actions, which are
A) continuing to overproduce the good, lowering the price of the good, or cutting output. B) reducing the pollution-causing activity, changing production techniques, or paying a price to pollute. C) installing pollution abatement equipment, paying to pollute, or just ignoring the issue. D) paying a pollution tax, continuing to use existing production techniques, or continuing the polluting behavior without regard to the social implications.
A new Mexican restaurant opens in the city of Manchester. The other restaurant owners are not happy about this new restaurant because they are experiencing what externality?