Rent, after the change in demand from D/1 to D/2, would be
A. $1,500.
B. $1,000.
C. $500.
D. impossible to determine with the information available.
B. $1,000.
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The recent U.S. national initiatives to control GHGs from mobile sources
a. includes market-based components such as CO2emissions trading b. provides negative net benefits to society, according to estimates c. will reduce carbon dioxide emissions but offers no savings of oil consumption d. was finalized by the Department of Agriculture and the EPA
Technological progress can be another mechanism which affects economic growth
Indicate whether the statement is true or false
The willingness to pay of buyers' in a market:
A. is represented by the demand curve. B. is represented by the supply curve. C. explains why the demand curve is bowed-out. D. explains why the demand curve is bowed-in.
Firms try to capture consumer surplus by
A) repeat Nash equilibrium games. B) finding markets with many competitors. C) exploiting suppliers. D) personalized pricing.