Which of the following results from an increase in the price of a one-week vacation at beach resorts on the coast of Mexico?
a. An increase in the supply of bicycle tires in Toledo, Ohio.
b. A decrease in the demand for vacations at resorts on Caribbean islands.
c. An increase in the supply of vacation opportunities at resorts on the coast of Mexico.
d. An increase in the demand for vacations at resorts on Caribbean islands.
d
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An office supply store sells a ream of printer paper at a fixed price of $4.50. Which of the following is a term used by economists to describe the money received from the sale of an additional ream of paper?
A) pure profit B) gross earnings C) marginal costs D) marginal revenue E) net benefit
Stampp (1976) finds evidence to suggest that the Southern slave owners were operating at losses, not profits
Indicate whether the statement is true or false
Deadweight loss:
A. occurs in markets that are efficient. B. occurs when markets are in equilibrium. C. is the loss in surplus from a market not in equilibrium. D. is additional surplus from an additional market transaction.
Which of the following workers is most likely to be asked to post a bond?
A) construction contractor B) fast food worker C) sanitation worker D) book author