If price increases and sellers supply a larger quantity, this represents
A. a change in quantity supplied.
B. a change in supply.
C. an increase in supply.
D. a decrease in supply.
A. a change in quantity supplied.
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Technological advance improves productivity in a purely competitive industry. This change will result in a shift:
A. Down of the individual firm's MC curve, causing the market supply curve to shift to the left B. Down of the individual firm's MC curve, causing the market supply curve to shift to the right C. Up of the individual firm's MC curve, causing the market supply curve to shift to the left D. Up of the individual firm's MC curve, causing the market supply curve to shift to the right
Suppose a tax on buyers has been imposed in the graph shown. The amount of deadweight loss generated by this tax is:
A. $0.
B. $18.
C. $36.
D. $72.
The Herfindahl index for a pure monopolist is:
A. 100. B. 10,000. C. 100,000. D. 10.
Which of the following is a transfer payment?I.Social SecurityII.Unemployment benefits
A. I only B. II only C. Both I and II D. Neither I nor II