The individual supplies of apples from three apple orchards are 460, 580, and 700 apples respectively, when the equilibrium price of an apple is $0.75 . Identify the correct statement from the following
a. The market supply at $0.75 is 1,540 apples.
b. If the price rises above $0.75, the market supply will be lower than 1,740 apples.
c. If the price rises above $0.75, there will be an excess demand for apples in the market.
d. The market demand at $0.75 is 1,740 apples.
d
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Refer to Figure 18-2. If the government imposes an excise tax of $1.00 on every unit sold
A) the deadweight loss is greater under the supply curve S0. B) the deadweight loss is greater under the supply curve S1. C) the deadweight loss is identical under either supply curve. D) there is no deadweight loss since revenue raised is used to fund government projects.
During what period did the US expand its area by the greatest amount?
a. Since 1970. b. 1910-1950. c. 1880-1900. d. 1800-1850. e. 1781-1795.
Starting from long-run equilibrium, the long-run impact(s) of a sharp drop in oil prices, compared to the original equilibrium, is(are):
A. higher inflation and the same output. B. the same inflation and the same output. C. lower inflation and lower output. D. higher inflation and lower output.
If consumption spending is greater than disposable income, then there is
A. dissaving. B. excess thrift. C. negative net investment. D. positive savings.