If tomato growers in Florida lobby the U.S. government to impose an import quota on Mexican tomatoes, who gains from such a quota?
A) Mexican growers
B) the U.S. government
C) no one
D) U.S. consumers
E) U.S. growers
E
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What role do business firms play in output markets and in factor markets?
What will be an ideal response?
Jane is attempting to maximize utility by selecting a market basket of goods. For each of the goods in the market basket the marginal utility per dollar spent is equal
There are some goods which are affordable but do not appear in the Jane's market basket. If Jane has maximized utility, the marginal utility per dollar spent on each of the goods that does not appear in the market basket is: A) too high. B) too low. C) zero. D) infinite. E) none of the above
The accompanying figure shows the demand curve for a product that can be sold only in whole-number amounts.
At a price of $25 per unit, what would be the total consumer surplus in this market each day?
A. $15 B. $5 C. $30 D. $0
In what ways did government subsidize agriculture over the past sixty years? What were the most important aspects of this assistance?
What will be an ideal response?