A one-time increase in the price of oil followed by a one-time increase in aggregate demand produce
What will be an ideal response?
a one-time increase in the price level.
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Which of the following is not a solution to the problem of negative externalities due to pollution?
a. create private property rights b. levy pollution taxes c. create obligatory controls d. subsidize the production of the goods e. establish strict limits on the amount of pollution allowed
The price of a good always changes when
A. there is an increase in demand and an increase in supply. B. either a shortage or a surplus occurs. C. there is a decrease in demand and a decrease in supply. D. quantity demanded and quantity supplied are constant.
Refer to the data. The marginal cost of the fifth unit of output is:
A. $80.
B. $90.
C. $50.
D. $20.
The Campus Crustacean Company receives $2 per box for its crawfish and is selling 1,600 boxes to maximize its profits. What is the profit per box of crawfish at this equilibrium level of output if the average variable cost is $1 per box and fixed costs are $1,200?
A. $.25 B. $.50 C. $1.00 D. $1.25