Refer to Scenario 16.3. Is the current distribution Pareto optimal?
A) Yes.
B) No, as Sam has more of both goods.
C) No, as it is possible to find a way for Sam to sell tee shirts to Sally (and receive candy in return) that would make both of them better off.
D) No, as it is possible to find a way for Sam to sell candy to Sally (and receive tee shirts in return) that would make both of them better off.
E) Without knowing the prices of tee shirts and candy we cannot determine if this distribution is Pareto optimal.
C
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Use the table below to answer the following question.ProducerMinimum Acceptable Product PriceActual Product Price (Equilibrium Price)Kimberly$6$13Drake713Nicki913Victoria1113What is the total producer surplus for all four producers shown?
A. $24 B. $6 C. $19 D. $13
To encourage invention and innovation, the government provides
A) patents. B) public franchises. C) government licenses. D) natural monopolies. E) easily obtained ownership barriers to entry.
Reasoning resulting in differing results includes the time period under examination, the data sources and proxies used, the econometric tools employed, and many other reasons. This is not to say that because different researchers come to different conclusions the analysis is confused. It just means further investigation is needed.
What will be an ideal response?
Each of the following could be used to fight inflation, EXCEPT
A. decreasing government spending. B. raising taxes. C. budget surpluses. D. budget deficits.