An increase in market supply will increase price
Indicate whether the statement is true or false
F
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Figure 3-1
According to Figure 3-1, the opportunity cost of one more bushel of wheat is
A. higher at B than at D. B. lower at B than at D. C. equal at B and D. D. impossible to determine from the information given.
Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000 . How much would a family that earned $18,000 owe?
Good weather in cities such as San Diego
A) is absolutely free for the residents of that city. B) is allocated using a weather market. C) imposes indirect payments for the residents of that city. D) b and c E) none of the above
Explain some important situations where direct controls have a clear advantage over taxes.
What will be an ideal response?