If government regulations increase the cost of producing gasoline while at the same time government regulations reduce the cost of driving a relatively inefficient sport utility vehicle (SUV),
A) the supply of gasoline is expected to increase.
B) the demand for gasoline is expected to decrease.
C) the price of gasoline is expected to increase, whereas the total consumption of gasoline can increase, decrease, or stay the same.
D) the supply of gasoline is expected to decrease.
C
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Monopolistic competitive firms in the long run earn:
a. positive economic profits. b. zero pure economic profits. c. negative economic profits. d. none of these.
The capital account balance is equal to the negative of
A. Trade balance + unilateral transfers + net investment income. B. Unilateral transfers + exports + imports. C. Current account balance + exports + unilateral transfers. D. Trade balance + current account balance + services balance.
How will an increase in lumber prices influence the home construction market?
A. The demand for newly constructed homes will increase. B. The demand for newly constructed homes will decrease. C. The supply of newly constructed homes will increase. D. The supply of newly constructed homes will decrease.
Courts must approve ________, that is, formal agreements on remedies between all parties to an antitrust case.
A. consent decrees B. private actions C. treble damages D. criminal actions