The graph shown demonstrates a tax a sellers. Before the tax was imposed, the sellers produced ________ units and received __________ for each one sold.
A. 15; $16
B. 31; $9
C. 31; $19
D. 15; $6
B. 31; $9
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Suppose the pizza at Pizza House and Little Weezer's are fairly close substitutes. If Pizza House raises their price 20%, and Little Weezer's keeps their price unchanged, which is most likely to occur?
A) The demand for Little Weezer's pizza will increase B) The demand for Pizza House pizza will decrease C) Both A and B D) None of the above
Anna owns the Sweet Alps Chocolate store. She charges $10 per pound for her hand made chocolate. You, the economist, have calculated the elasticity of demand for chocolate in her town to be 2.5
If she wants to increase her total revenue, what advice will you give her?
The price of a computer in the United States is $1,000. The price of a car in Germany is 10,000 euros. The current exchange rate is 0.9 euros per dollar
a) If a computer is exported from the United States to Germany with no barriers to trade, what will be the price of the computer in Germany? b) If a car is imported to the United States from Germany with no barriers to trade, what will be the price of the car in the United States? c) Suppose the dollar appreciates by 10 percent against the euro. How will the price of a computer exported from the United States change in Germany? d) Suppose the dollar appreciates by 10 percent against the euro. How will the price of a car imported to the United States from Germany change in the United States?
According to the World View titled "Income Share of the Rich," in which of the following would the top tenth of the population be most likely to receive the highest percentage of the country's income?
A. Namibia. B. Canada. C. South Africa. D. Japan.