With respect to the Ford Pinto, comparing the cost of the modification to the fuel tank with the lives the modification would save was the best way Ford could save the greatest number of lives at the lowest possible cost
Indicate whether the statement is true or false
TRUE
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The more elastic the supply of a product, the more likely that the actual benefit of a subsidy granted of the product will
a. go to sellers. b. go to buyers. c. go equally to both buyers and sellers. d. do none of the above.
The income elasticity of demand for caviar tends to be
a. high because caviar is relatively expensive. b. low because caviar is packaged in small containers. c. high because buyers generally feel that they can do without it. d. low because it is almost always in short supply.
A U.S. individual buys shares in a Swiss company. This transaction will be entered as
A. a credit in the U.S. capital account. B. a debit in the U.S. current account. C. a debit in the U.S. capital account. D. a credit in the U.S. current account.
Refer to the information provided in Table 13.4 below to answer the question(s) that follow. Table 13.4Price ($)Quantity20.00118.00216.00314.00412.00510.006 8.007Refer to Table 13.4. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $8 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $10; 6 B. $18; 2 C. $14; 4 D. $12; 5