Which of the following is a not direct result of scarcity?
A. Buildings in New York City are taller than buildings in Greenville, SC due to fewer acres of land per person.
B. Due to high gas prices, Shana decides to trade her Chevy Tahoe for a Honda Accord.
C. A college student misses a test review in order to sleep in.
D. The total amount of air we can breathe as others draw breaths from that same air space.
D. The total amount of air we can breathe as others draw breaths from that same air space.
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Paulette owns a pizza parlor. Her total cost schedule is in the above table. Her total fixed cost is equal to
A) $20. B) $35. C) $79. D) $85. E) Some amount, but more information is needed to determine her fixed cost.
A deadweight loss arises under perfect competition
a. True b. False Indicate whether the statement is true or false
In this case, how much of the $5.00 excise tax is paid by the consumer?
Consider the following market for CFC-11, a known ozone-depleting substance: Demand: Q= 20 – 1.5P Supply: Q= 5+0.5P whereP is price per pound. Assume the governmental authority imposes a $5 per pound excise tax on CFC-11, which shifts the supply function to Q’ = 2.5 +0.5P.Use this information for any or all of the next three questions below. a. $3.75 b. $2.25 c. $5.00 d. $1.25 e. none of the above
Speculative demand for money is a(n):
A. positive function of prices. B. inverse function of prices. C. positive function of interest rates. D. inverse function of interest rates.