The degree to which rent controls affect the market for apartments depends on
A. supply elasticity.
B. the intent of the lawmakers.
C. demand elasticity.
D. A) and C)
Answer: D
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Use the following graph to answer the question below.
The quantity where marginal benefit equals marginal cost is
A. 290. B. 200. C. 130. D. 0.
The above figures show the market for gasoline. Which figure shows the effect of an increased preference for cars that are smaller and more fuel efficient?
A) Figure A B) Figure B C) Figure C D) Figure D
Assume that you have won a prize of $10,000. Make a list of how you would spend and save the money, from most important to least important.
What will be an ideal response?
If the four-firm concentration ratio in an industry increases, the industry
A. must have become more competitive. B. must have become a monopoly. C. must have become less competitive, although not necessarily a monopoly. D. may or may not have become less competitive.