Prosperity in the United States is evenly distributed across the fifty states
a. True
b. False
Indicate whether the statement is true or false
False
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Market clearing means
A) quantity demanded exceeds quantity supplied. B) quantity demanded equals quantity supplied. C) quantity demanded is less than quantity supplied. D) quantity demanded and quantity supplied both equal zero.
Suppose a firm pollutes a river when it produces a product. To achieve the efficient amount of output, a government could impose a ________ that equals the ________ of the pollution
A) pollution charge; marginal social cost B) pollution charge; marginal external cost C) pollution tax; marginal social cost D) pollution tax; marginal external cost E) pollution subsidy; marginal social cost
What is the difference between a price ceiling and a price floor? Compared to the competitive equilibrium price, where must price ceilings and price floors be set to have an effect on the market
What will be an ideal response?
Refer to Figure 10-4. What is the marginal rate of substitution for one bar of chocolate between g and h?
A) of a cookie. B) of a cookie. C) 2 cookies. D) 3 cookies.