There is no reason to think poets can't someday become as rich as professional basketball players in the market process. It is most likely to happen if
A) the supply of poets increases substantially.
B) the supply of poets decreases substantially.
C) the cost of writing good poetry decreases substantially.
D) poets are able to consistently sell out twenty-thousand-or-larger seat stadiums at thirty dollars (or more) per ticket.
D
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The table above shows information about the costs and benefits of a steel smelter that pollutes the air of a city
If the marginal external cost is $10 per ton at every quantity of steel produced, the equilibrium quantity when the steel industry is unregulated is ________ tons per week. A) 5 B) 15 C) 20 D) 25
Industry X comprises only very few large firms engaged in stiff competition with each other. Industry X can best be described as
A) pure competition. B) monopolistic competition. C) pure monopoly. D) oligopoly.
In 2008–2009, the U.S. economy provided a
A. healthy climate for investment spending. B. change in aggregate demand that fostered more capital formation. C. sluggish climate for investment spending. D. booming economy that spurred investment spending.
With trade, the slope of the Consumption Possibilities Curve (CPC) is equal to
A) the world price of the good on the horizontal axis. B) the world price of the good on the vertical axis. C) the opportunity cost of the good on the horizontal axis. D) the opportunity cost of the good on the vertical axis.