The optimal level of emissions of most pollutants is zero.
Answer the following statement true (T) or false (F)
False
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An increase in taxes will ________ consumption spending, and a decrease in transfer payments will ________ consumption spending
A) decrease; increase B) decrease; decrease C) increase; decrease D) increase; increase
Refer to the above figure. Profits will equal zero
A) when the price equals $1. B) when the price equals $2. C) when the price equals $4. D) at prices between $1 and $2.
Which of the following industries would be considered to have a labor intensive production process?
A. Farming in a rich country B. Working in a factory. C. Driving a cab. D. Writing a novel
Bryce saw a motorcycle for sale online. He had been wanting that model of motorcycle and was willing to pay $5,000. The one he saw online was listed for $3,500, so he immediately bought it. In this case, how much was the consumer surplus?
a. $1,500 b. $3,500 c. $5,000 d. $8,500