If enforcement is aimed at buyers of an illegal good, the result will be
A) an increase in the short-run supply of the good.
B) a decrease in the short-run supply of the good.
C) a decrease in demand for the good.
D) an increase in the price of the good.
C
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If there is unemployment in an economy, then the
A) economy is operating at an unattainable point. B) production possibilities frontier will shift inwards. C) production possibilities frontier must be bowed inward. D) economy is producing at a point inside the production possibilities frontier. E) production possibilities frontier will shift outwards.
If a firm in a competitive industry is making no profit but still producing, it must be the case that
a. MC = MR > ATC b. MC = MR < ATC c. MC = ATC > MR d. MC = MR = ATC e. this situation is not possible
Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.
Figure 33.4Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. If there is free trade, this country will ________ 200 leather wallets.
A. export B. import C. sell D. buy
The optimal inventory to hold maximizes the profit of the inventory, which is the profit from the units sold ________ the ________ from the units that remain unsold.
A) plus; profit B) plus; loss C) minus; profit D) minus; loss