Vaccinations are a ________ good that create a ________ externality.
A. private; positive
B. private; negative
C. public; negative
D. public; positive
Answer: A
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Which of the following shifts the supply curve of popcorn leftward?
A) a decrease in the price of popcorn B) an increase in the price of popcorn C) a technological development in the production of popcorn D) a decrease in the number of popcorn suppliers E) a decrease in the cost of producing popcorn
Will a monopolistically competitive firm continue to operate in the short run despite earning negative economic profit? Explain your answer
What will be an ideal response?
According to Figure 3.2, the marginal product of labor
a. falls short of the real wage at point b. b. is higher at point a than at point e. c. equals the real wage at point c. d. All of the above e. None of the above.
Excess demand occurs when
a. the actual price is greater than the equilibrium price b. equilibrium is undefined c. consumer wants are unlimited d. the actual price is less than the equilibrium price e. the market is in equilibrium