If the Environmental Protection Agency (EPA) directs an old lace factory to install an expensive water purification system to treat its wastes before they are discharged into the river,
a. the price of lace will fall
b. the lace factory may go out of business
c. this directive is unenforceable
d. the private cost curve will shift to the right
e. more lace is sold so the factory can cover the higher costs
B
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List and explain factors that determine the size of the expenditure multiplier in the expenditure model when prices are constant
What will be an ideal response?
The figure above illustrates the problem of overcrowding and external costs experienced during the summer months in the state park. The competitive equilibrium is at
A) point G. B) point H. C) point I. D) point J.
When there are only two firms in a market, a Stackelburg leader will choose the monopoly output
Indicate whether the statement is true or false
Colonial production of tobacco satisfied England's mercantilist interests because:
a. it provided a substitute for imported Spanish tobacco. b. its poor quality discouraged English youth from smoking. c. it provided a good that could be taxed by the English. d. it ensured that the colonists would remain dependent on England for food.