Refer to the graph below for the event-ticket market. A scalpers' market will exist if the event organizers set the official ticket price at:
The graph below shows the market for tickets to a "Final Four" sports event. Assume that there is only one kind of ticket to the event.
A. $50
B. $20
C. $40
D. $60
B. $20
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The effect of an import quota on the domestic market is to shift the:
a. demand curve to the right by the amount of the quota. b. demand curve to the left by the amount of the quota. c. supply curve to the right by the amount of the quota. d. supply curve to the left by the amount of the quota. e. consumers' marginal utility curves if they prefer foreign goods to domestic goods.
If an investor's primary stock holding is currently Exxon Mobil, the purchase of which of the following stocks would provide the investor with the largest reduction in risk?
What will be an ideal response?
Which of the following types of workers is most likely to face seasonal unemployment?
a. carnival game operator b. police officer c. fast food worker d. costume designer
If a potato farmer expands output, he finds that the increase in total revenue is less than the increase in total costs. This means that:
A. profit is being maximized. B. he should not have expanded output. C. he should produce even more output. D. the firm is wasting resources.