Refer to Tax Problem. If the government imposes a $10 per unit consumption tax, then the market will produce

Consider a perfectly competitive market were demand is Q = 100 - P and Supply is Q = P - 10.
a. 20 units
b. 40 units
c. 45 units
d. 90 units


b. 40 units

Economics

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The study of how people behave strategically under different circumstances is called:

A. game theory. B. game strategy. C. strategy optimization. D. strategy theory.

Economics

Higher efficiency in the economy can be reached if prices are held low by law.

Answer the following statement true (T) or false (F)

Economics

When considering choice architecture, a nudge:

A. is a gentle push in a particular direction. B. does not take away any options. C. allows anyone who wants to go in a different direction to do so. D. All of these statements are true.

Economics

Refer to the above table. If an economy's current per capita real GDP is $3,000, and if its economy grows at an constant annual rate of 5 percent for 50 years, what will be its per capita real GDP at the end of that period?

A. $34,500 B. $55,200 C. $21,330 D. $13,140

Economics