According to the text application, the IPCC estimates that
a. Africa is the only continent vulnerable to climate change
b. ecological risk to North America will vary within the region
c. Europe should experience shorter growing seasons
d. Latin American should experience higher crop yields
e. all of the above
b. ecological risk to North America will vary within the region
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Explain why an external benefit leads to an under-allocation of resources to the production of a good
What will be an ideal response?
The strategy underlying price discrimination is to
a. charge higher prices to customers who have better access to substitutes. b. charge everyone the same price but limit the quantity they are allowed to buy. c. increase total revenue by charging higher prices to those with the most inelastic demand for the product and lower prices to those with the most elastic demand. d. reduce per-unit cost to the firm by charging higher prices to those with the most inelastic demand and lower prices to those with the most elastic demand.
If the quantity of housing supplied in a community is less than the quantity of houses demanded, the existing price:
A) will remain unchanged. B) will fall to clear the market. C) will either fall or remain unchanged. D) is below the market equilibrium price.
Interindustry trade is not based on comparative advantage since it consists of the export and import of similar goods
Indicate whether the statement is true or false