The owner of a produce store found that when the price of a head of lettuce was raised from 50 cents to $1, the quantity sold per hour fell from 18 to 8. The arc elasticity of demand for lettuce is
A) -0.56.
B) -1.15.
C) -0.8.
D) -1.57.
B
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On the benefit side of the analysis, briefly describe two distinct benefits to society that are relevant to a risk-benefit analysis of pesticides.
Suppose you are part of an economic analysis team charged with recommending a policy response to pesticide risks. Your team decides to use risk-benefit analysis as its risk management strategy.
One of the consequences of a rent ceiling set below the equilibrium rent is
A) decreased search activity. B) increased search activity. C) the establishment of landlord unions. D) surpluses of apartments. E) the elimination of the deadweight loss that would otherwise exist in the housing market.
In 2017, which group had the lowest average salaries?
a. black women b. black men c. white women d. white men
Sven likes to water ski, but can only water ski during the one week each year when he is on vacation. Therefore, he plans to ski every day, for eight hours a day. The first day, Sven skied for eight hours and enjoyed every hour. The second day, Sven slept in and then skied for seven hours, which was fun but not as much fun as the first day. The third day, Sven skied for six hours, but was starting to get a bit bored by the end. The fourth day, Sven skied for four hours and then took a nap. On the fifth day of Sven's vacation, Sven went blueberry picking all day. Sven's marginal utility from his first hour of skiing was ________ his marginal utility from his tenth hour of skiing.
A. less than B. the same as C. greater than D. more negative