Children of female heads of households are five times more likely to live in poverty than other children
a. True
b. False
A
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The graph shows the market for ski chalets in Aspen. The Aspen Tourist Board asks the local government to impose a rent ceiling on ski chalets. If the rent ceiling is set at $1,900 a week, then there is
A) a shortage of 3,000 chalets a week. B) a surplus of 3,000 chalets a week. C) neither a shortage nor surplus of chalets. D) a shortage of 6,000 chalets a week. E) a surplus of 6,000 chalets a week.
Increase in capacity utilization will ________ the expenditure curve:
A) decrease. B) increase. C) not change. D) none of the above.
When regulating a natural monopoly, the regulating agency should set price equal to marginal cost
a. True b. False
For a firm in a perfectly competitive industry,
A) both short-run and long-run economic profits may be negative.
B) short-run economic profits must be zero.
C) short-run economic profits may be positive, but long-run economic profits must be zero.
D) short-run and long-run economic profits must be zero.