In the United States, which of the following is an example of a government-sponsored good?
A) wireless networks
B) concerts
C) cigarettes
D) marijuana
B
You might also like to view...
In the figure above, suppose the original budget line is BD. A rise in the price of a compact disc will
A) rotate the budget line to AD. B) rotate the budget line to CD. C) not move the budget line. D) result in a parallel leftward shift of the budget line.
Refer to the above table. Suppose the price of X increases from $10 to $12. What is the cross price elasticity of demand between X and Y?
A) -1.833 B) +0.545 C) +0.579 D) +1.833
You and your college roommate eat three packages of Ramen noodles each week. After graduation last month, both of you were hired at several times your college income. You still enjoy Ramen noodles very much and buy even more, but your roommate plans to buy fewer Ramen noodles in favor of foods she prefers more. When looking at income elasticity of demand for Ramen noodles,
a. yours would be negative and your roommate's would be positive. b. yours would be positive and your roommate's would be negative. c. yours would be zero and your roommate's would approach infinity. d. yours would approach infinity and your roommate's would be zero.
If a firm is operating beyond the minimum point of its ATC curve, then marginal cost is
A. greater than ATC and rising. B. greater than ATC and falling. C. less than ATC and rising. D. less than ATC and falling.