If the price was $6, her consumer surplus would be
Demand and Utility Schedules for Packs of Star Wars Trading Cards
A. $40.
B. $30.
C. $10.
D. $6.
C. $10.
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An intertemporal budget constraint is downward sloping due to ________
A) the trade-off between current and future consumption B) the law of diminishing marginal productivity C) the law of supply D) the law of demand
Pollution is an example of a negative externality
a. True b. False Indicate whether the statement is true or false
If the government removes a $1 tax on sellers of gasoline and imposes the same $1 tax on buyers of gasoline, then the price paid by buyers will
A. not change, and the price received by sellers will not change B. increase, and the price received by sellers will increase. C. increase, and the price received by sellers will not change. D. not change, and the price received by sellers will increase
Which of the following firms will eventually reach zero economic profits?
a. The loss taken by VCW, Inc. causes suppliers to exit the industry and the market supply curve to shift left. b. The profit made by Median Enterprises causes suppliers to enter the industry and the market supply curve to shift right. c. TransFit, Inc.’s stable performance has no effect on the market supply curve. d. GlobalLink, Ltd.’s poor performance causes suppliers to exit the industry and the market supply curve to remain stable.