Ahmed has decided not to purchase another can of Stosh because his friends laughed at him the last time he purchased some. Stosh is no longer a popular item. Ahmed's decision is known as
A) price-leadership.
B) negative-sum game.
C) positive market feedback.
D) negative market feedback.
Answer: D
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Refer to Figure 2-3. Carlos Vanya grows tomatoes and strawberries on his land. His land is equally suited for growing either fruit. Which of the graphs in Figure 2-3 represents his production possibilities frontier?
A) Graph A B) Graph B C) Graph C D) either Graph A or Graph B E) either Graph B or Graph C
If a firm that emits a form of pollution is also a monopolist, is the firm more likely to be allocatively efficient? Explain
It does not matter whether a tax is levied on the buyers or the sellers of a good because
a. sellers always bear the full burden of the tax. b. buyers always bear the full burden of the tax. c. buyers and sellers will share the burden of the tax. d. None of the above is correct; the incidence of the tax does depend on whether the buyers or the sellers are required to pay the tax.
The figure below shows the market for MP3 players in a small country. Dd and Sd are the domestic demand and domestic supply curves of the MP3 players. QQ is the quota quantity. If the government auctions the import licenses, the quota on MP3 players will result in a(n) ________ in the national well-being by
A. decrease; $85 million. B. increase; $50 million. C. increase; $195 million. D. decrease; $35 million.