Refer to the above table. The market quantity supplied when the price is $6 is
A) 0.
B) 5.
C) 10.
D) 20.
D
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Interest in environmental problems has intensified, perhaps because
A. for the first time in history in the 1970s, people began to die from pollution-related diseases. B. rising incomes have caused people to be more concerned with the quality of their lives. C. the centrally planned economies are polluted. D. decentralized economies are less polluted.
The price effect is smaller when there:
A. are fewer firms. B. are more firms. C. is more demand. D. is less demand.
The financial situation at Starbucks in the late 2000s illustrates the fact that maintaining long-run profits in a monopolistically competitive market is
A. very difficult. B. impossible. C. almost always guaranteed. D. fairly easy.
An increase in the tax rate on interest income
a. raises the amount earned on savings. Saving will rise if the income effect of the increase in the tax rate is larger than the substitution effect. b. raises the amount earned on savings. Saving will rise if the income effect of the increase in the tax rate is smaller than the substitution effect. c. reduces the amount earned on savings. Saving will fall if the income effect of the increase in the tax rate is larger than the substitution effect. d. reduces the amount earned on savings. Saving will fall if the income effect of the increase in the tax rate is smaller than the substitution effect.