The population of tuna in the Pacific Ocean unexpectedly soars so it becomes easier to catch tuna. Which of the following would most likely happen first?
a. The price of tuna would remain constant.
b. The price for tuna would increase
c. The supply of tuna would increase.
d. The demand for tuna would increase.
c. The supply of tuna would increase.
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When one applies the Heckscher-Ohlin model of trade to the issue of trade-related income redistributions, one must conclude that North South trade, such as U.S.-Mexico trade
A) must help low skill workers on both sides of the border. B) is likely to hurt high-skilled workers in the U.S. C) is likely to hurt low-skilled workers in the U.S. D) is likely to hurt low-skilled workers in Mexico. E) is likely to help highly skilled workers in Mexico.
Slick Shades has a constant marginal cost of production equal to $80 and the distributors have a constant marginal cost of distribution equal to $30. If Slick Shades is producing the profit-maximizing number of sunglasses (in hundreds), what is the profit-maximizing wholesale price?
The figure above shows the wholesale demand and marginal revenue curves for Slick Shades Sunglasses, a sunglasses firm with market power. Slick Shades Sunglasses has a constant marginal cost of production and it sells to perfectly competitive independent retail distributors that have a constant marginal cost of distribution.
A) $150
B) $120
C) $140
D) $160
Which of the following is not a result of rent controls?
a. reduced incentives to build new rental housing b. reduced incentives for landlords to keep rental units in good repair c. increased discrimination against people deemed undesirable on the part of landlords d. increased turnover as tenants move more frequently from one rental unit to another
A key tenet of the supply-side economic theory of the 1980s was that government tax cuts would increase after-tax wages, stimulating the incentive to seek higher wages through increased labor supply
Indicate whether the statement is true or false