Which of the following examples best illustrates a negative network externality?
a. Jamal goes to the theme park on weekdays to avoid the crowds.
b. Jamal buys his plane ticket on sale to avoid an expected rate increase.
c. Jamal goes to a movie instead of a concert because concert ticket prices increase.
d. Jamal buys a season pass to the theme park to save money.
a. Jamal goes to the theme park on weekdays to avoid the crowds.
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The vicious circle of poverty makes it difficult for an LDC to:
a. establish political institutions. b. control inflation. c. save and invest. d. fix its exchange rate.
Among the following pairs, which is likely to have the greatest price elasticity of demand? Why?
a. cars or Toyotas b. electricity usage during a month or during a year c. cable television or an apartment rental
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Refer to the information provided in Figure 8.9 below to answer the question(s) that follow. 
Figure 8.9
Refer to Figure 8.9. If this farmer produces the profit-maximizing level of hay when the market price is $18 per bale, her total cost would be
A. $1,200. B. $2,800. C. $5,600. D. $6,300.