Rent seeking through lobbying
A) reduces deadweight loss.
B) uses up resources that result in additional costs to society.
C) results in perfect price discrimination.
D) results in perfectly competitive industries.
B
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Thomas Malthus argued that population grows geometrically and the food supply grows arithmetically
a. True b. False
Suppose that Melinda goes to the movies 6 times per month when the price is $14 and 4 times per month when the price is $20. What is the price elasticity of Melinda’s demand curve?
a. 0.02 b. 0.2 c. 1.33 d. 10.0
You decrease your product price by $10 in market A but leave it unchanged in market B. Sales in A rise from 840 units per week to 940 while sales in B also rise from 770 to 790 . The difference-in-difference estimate of the effect of the price change is:
a. 80 units b. 100 units c. 120 units d. 140 units
An example of an information asymmetry is when a worker knows more than his employer about his work effort
a. True b. False Indicate whether the statement is true or false