If the government implements a binding price ceiling on insulin, this will
A) increase the price consumers will pay for insulin.
B) decrease the quantity of insulin the manufacturers will be willing to supply.
C) have to be set above the market equilibrium price to be effective.
D) encourage manufacturers to produce and sell more insulin to increase their profits.
Answer: B
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A decrease in business taxes will tend to ________.
A. decrease aggregate demand B. increase aggregate supply C. increase aggregate supply but not change aggregate demand D. increase aggregate demand but not change aggregate supply
The relationship between marginal revenue and elasticity is
A) when demand is elastic, marginal revenue is positive and when demand is inelastic, marginal revenue is negative. B) whenever the elasticity is positive, marginal revenue is positive. C) whenever the elasticity is negative, marginal revenue is positive. D) when demand is elastic, marginal revenue is negative and when demand is inelastic, marginal revenue is positive. E) that total revenue equals zero at the quantity for which the demand is unit elastic.
A study arguing that the United States should adopt a single-payer health system
What will be an ideal response?
At a recent company meeting, Ravi Batra, sales manager of Life's a Beach, a surfboard producer announced, "We have increased our sales by 13 percent in just 9 months." Suppose 9 months ago, its sales amounted to $245,000, what is the value of its sales
today? A) $31,850 B) $207,638 C) $276,850 D) $359,905