Refer to the following table to answer the question. Demand is most elastic between:PriceQuantity Demanded$2.0026$4.0022$6.0018$8.0014$10.0010
A. $6 and $8.
B. $4 and $6.
C. $2 and $4.
D. $8 and $10.
Answer: D
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An oligopolistic industry is characterized by a few large firms acting independently
Indicate whether the statement is true or false
Which group is most likely to argue that an increase in government spending will be more effective than a reduction in taxes as a tool to promote recovery?
a. monetarists b. Keynesian economists c. supply-side economists d. new classical economists e. All of the above; there is a consensus on this issue.
Historically, the United States has experienced
A. periods of both increases and decreases in the unemployment rate since World War II. B. no changes in the unemployment rate since World War II. C. continuous decreases in the unemployment rate since World War II. D. continuous increases in the unemployment rate since World War II.
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. For Alpha, the tax is ________ than the marginal benefit it gets from polluting, and for Beta, the tax is ________
than the marginal benefit it gets from polluting. A. lower; higher B. higher; lower C. higher; higher D. lower; lower