Some policymakers have argued that products like cigarettes, alcohol, and sweetened soda generate negative externalities in consumption

All else equal, if the government decided to impose a tax on soda, the equilibrium quantity of soda would ________ and the equilibrium price of soda would ________.
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase


C

Economics

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La Super Rica is a taco stand in Santa Barbara, California. It is popular with the locals and even the late Julia Child found the food delicious. Suppose La Super Rica maximizes its profit

If La Super Rica's lunch price is greater than its average total cost, which of the following statements is NOT true? A) La Super Rica is producing at its efficient scale. B) La Super Rica is making an economic profit. C) La Super Rica is producing a quantity where marginal revenue equals marginal cost. D) La Super Rica has excess capacity.

Economics

___________ is the ability to recognize and use resources effectively

a. Efficiency b. Intuition c. Helpfulness d. Resourcefulness

Economics

The budget set is:

A. all the points on the budget line. B. the area below the budget line. C. the endpoints of the budget line. D. all the points on the budget line and the area to the left of the budget line.

Economics

If you were going to spend time in Great Britain, you would be paying for goods and services with

A. pounds. B. dollars. C. euros. D. gold.

Economics