If the expected profitability of a business activity increased we might expect investment spending to:
A. increase.
B. decrease.
C. remain constant.
D. there is not enough information to determine what would happen.
A. increase.
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If a good has many close substitutes, then its demand is most likely
A) elastic. B) inelastic. C) unit elastic. D) perfectly inelastic. E) elastic or inelastic depending on whether the price of the good is increasing or decreasing.
A new toll of $0.50 per car is in place on a bridge, and 1,000 cars have used the bridge. Total tax revenues would be:
A. $500. B. $2,000. C. $1,000. D. $5,000
Scarcity exists for those with a. lower incomes
b. average incomes. c. higher incomes. d. all of the above.
Refer to Table 3.1 to answer the following questionTable 3.1 Individual Demand and Supply SchedulesQuantity Demanded byPriceAlejandroBenCarlMarket$8.00842________6.001244________4.002046________2.002246________Quantity Supplied byPriceAveryBrandonCassandra $8.006046________$6.004244________$4.002442________$2.00640________In Table 3.1, the equilibrium market quantity is
A. 70. B. 22. C. 14. D. 30.