If the price of flashlights in production increases, then supply of ______ would most likely increase.
a. batteries
b. pencils
c. olive oil
d. iron ore
a. batteries
You might also like to view...
Assuming that the marginal social benefit (MSB) of environmental quality is known, then
a. theMSB represents the demand for environmental quality b. total social benefits (TSB) of abatement, A1, can be captured as an area under the MSB up to A1 c. incremental benefits are measured as an area under the MSB between the pre- and post-policy abatement levels d. all of the above e. none of the above
Quotas usually lead to larger deadweight losses than tariffs
Indicate whether the statement is true or false
Why might special interest groups be more likely to push for transfers instead of economic growth? The answer is because it usually takes a much __________________ percentage _______________ in growth to equal what they can get from the transfer
A) smaller; decrease B) larger; increase C) larger; decrease D) smaller; increase E) none of the above
Refer to Figure 1.7. Which of the following points are unattainable, ceteris paribus?
A. E. B. G. C. N. D. F.