When goods are subject to market failure, all of the following are possible solutions to the market failure except:
A. change social norms.
B. have government either regulate the market or provide the good.
C. privatize the good.
D. set a very specific consumer quota on consumption.
D. set a very specific consumer quota on consumption.
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In economics, the demand for a good refers to the amount of the good people:
a. would like to have if the good were free. b. are willing to buy at various prices. c. need to achieve a minimum standard of living. d. will buy at alternative income levels.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90
The text lists 5 key provisions of the Dodd-Frank Act. What are those 5 key provisions?
What will be an ideal response?
As the manager of a ski resort, you want to increase the number of lift tickets sold by 8 percent. Your staff economist has determined that the price elasticity of demand for lift tickets is 2. To increase sales by the desired amount, you should decrease the price of a lift ticket by:
A. 16 percent. B. 8 percent. C. 4 percent. D. 2 percent.