In the figure above, which movement could be the result of an increase in the wages paid to oil workers?
A) point a to point e
B) point a to point b
C) point a to point c
D) point a to point d
D
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Let S = y - (100 + 0.5y). Assume no government or foreign sectors. At the equilibrium level of income, y* = 800, the level of saving is
A) 0. B) 50. C) 100. D) 300.
If one firm advertises and other firms in the market don't, then ______
A. the demand for the advertised good becomes more elastic B. the profit-maximizing quantity of the advertised good decreases be-cause total fixed costs increase C. the average cost of producing a small quantity of the advertised good rises but the average total cost of producing a large quantity might fall D. the economic profit made from the advertised good increases
Consider a situation in which a utility company emits high levels of sulfur dioxide and the company is not liable for the damages its pollution causes
According to the Coase theorem, government action is ________ to achieve an ________ amount of pollution. A) not necessary; efficient B) necessary; efficient C) necessary; equitable D) not necessary; equitable
According to the following graph, at point A,
The price of Y is $50.
A. the consumer can exchange two units of X for one unit of Y and keep income unchanged. B. the consumer can exchange two units of X for one unit of Y and keep utility unchanged. C. the consumer receives twice as much marginal utility from X as from Y. D. both a and b E. all of the above