Refer to the above figure. If the government imposes a price floor of $20
A) the quantity traded will be 150, and the price will be $20.
B) the quantity traded will be 100, and the price will be $20.
C) the quantity traded will be 200, and the price will be $20.
D) none of the above.
D
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When a third string NFL quarterback earns more than a police officer, society answers the ________ question
A) for whom B) what C) how D) why E) social interest vs. self-interest
Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer decreases, the
A) demand for Dell computers increases. B) demand for Apple computers increases. C) demand for Apple computers decreases. D) supply of Dell computers increases. E) demand for Dell computers decreases.
A key aspect of East Asian development policies was
a. lack of government intervention in company affairs b. government ownership of most companies c. government planning d. government incentives for particular companies e. none of the above
Which of the following distinctions helps to explain the difference between relevant and irrelevant cost?
A) accounting cost vs. direct cost B) historical cost vs. replacement cost C) sunk cost vs. fixed cost D) variable cost vs. incremental cost