The table shows the demand and supply schedules for jeans
A) At $60 a pair, there is a shortage of jeans and the price will fall.
B) At $60 a pair, there is a surplus of jeans and the price will rise.
C) At $40 a pair, there is a shortage of jeans and the price will rise.
D) At $40 a pair, there is a shortage of jeans and the price will fall.
C
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Which of the following is a common method used by government to cope with the situation in which production of a good creates an external cost?
A) removing property rights B) subsidizing production C) marketable permits D) lottery E) vouchers
It is often observed that the prices charged for gasoline by the various gas stations in a particular city tend to move together very closely. Is this an example of tacit collusion that should be prosecuted in the United States? Why or why not?
What will be an ideal response?
How does the existence of money affect economic growth?
What will be an ideal response?
Total revenue is the amount:
A. a firm receives from the sale of goods and services. B. a firm keeps after all expenses are paid. C. of sales that get reinvested in the firm. D. a firm receives from dividends.