The effect of a rise in peoples' incomes on equilibrium price and quantity of Florida orange juice is to
a. increase equilibrium price and quantity
b. decrease equilibrium price and quantity
c. increase equilibrium price and decrease equilibrium quantity
d. increase equilibrium quantity and decrease equilibrium price
e. decrease equilibrium price and increase equilibrium
A
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The filing status of an unmarried single parent living with another person is likely to be
A. married filing jointly. B. single head of household. C. single. D. married filing separately.
A firm using a two-part tariff faces a tradeoff because
A) any increase in consumer surplus must be offset by a decrease in producer surplus. B) the only way to increase the fixed-fee portion of the price is to lower the per-unit portion of the price. C) the only way to increase total revenue is to lower per-unit profit. D) the smaller the variation between the parts of the price, the greater the deadweight loss generated by the pricing scheme.
The three major responsibilities of the European Parliament are legislative power, control over the budget, and supervision of executive decisions
a. true b. false
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