Which of the following would most likely happen to a tenant who has rented a rent-control apartment for 10 years?
a. The rent will have risen slightly.
b. The rent will have doubled.
c. The rent will have stayed exactly the same.
d. The rent will have decreased significantly.
a. The rent will have risen slightly.
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Suppose a particular production process results in a large amount of pollution and the government decides to impose a tax to correct for this externality, such that the socially optimal output will be produced. The tax will have the effect of shifting the
A. marginal private benefit curve to the right. B. marginal social benefit curve to the right. C. marginal private cost curve to the left. D. marginal social cost curve to the left. E. marginal private cost curve to the right.
If the firm learns that the complicated technology can be made more stable with a few tweaks increasing the price to 15.5 million and increasing the probability of a launch to 50%. Given the new costs and probabilities of launch for the complicated software, which technology would the firm rather invest in now?
a. The simple voice-activated software b. The complicated thought-activated software c. Neither of the software d. Need more information
The global financial panic in September 2008 that led to a sharp fall in business investment spending and consumer spending can be viewed as: a. a sharp decrease in aggregate supply
b. a sharp decrease in aggregate demand. c. a sharp decrease in both aggregate supply and aggregate demand. d. a modest increase in aggregate supply. e. a modest increase in both aggregate demand and aggregate supply.
Which of the following is likely to have the most price inelastic demand?
a. tablet computers b. leather boots c. lightbulbs d. optional textbooks