Refer to Figure 4-9. The price buyers pay after the tax is
A) $12. B) $8. C) $5. D) $3.
B
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The derived demand for labor is determined by
A. labor’s wage. B. labor’s marginal revenue. C. the marginal cost of the input labor. D. labor’s marginal revenue product.
One implication of the Condorcet paradox is
a. that the order in which things are voted on can affect the result. b. that the order in which things are voted on is irrelevant. c. that you do not want to be in charge of arranging which items are voted upon first. d. that when there are only two items being voted on the order matters.
Refer to the figure below. The socially optimal level of output could be achieved by imposing a tax on each unit equal to the distance ________. 
A. EG B. EF C. AC D. BC
Suppose that a consumer's preferences are well behaved in that properties 4-1 to 4-4 are satisfied and the initial equilibrium consumption bundle consists of 100 units of X and 50 units of Y. If PX decreases such that the new equilibrium consumption bundle is 150 units of X and 75 units of Y, then goods X and Y are:
A. substitutes. B. unrelated. C. inferior goods. D. complements.