In general, we would expect the marginal cost of pollution abatement to be
A) zero.
B) decreasing.
C) increasing.
D) constant.
C
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"Last October, due to an early frost, the price of a pumpkin increased by 10 percent compared to the price in the previous Halloween season. As a result, the quantity demanded county-wide decreased from 2 million to 1.5 million"
Based on this statement, it is certain that the A) demand curve for Halloween costumes shifted leftward. B) price elasticity of demand for pumpkins decreased from its value in previous years. C) demand curve for pumpkins shifted leftward. D) total revenue from the sale of pumpkins decreased.
Looking at the relationship between elasticity and total revenue, we can see that ____
a. b and c b. when demand is unit elastic, small price changes don't change total revenue c. when a good is price inelastic, revenue increases when prices increase d. when a good is price elastic, revenue increases when prices increase e. total revenue is maximized when the elasticity has stopped changing
Nations typified by high rates of illiteracy, high unemployment, high fertility rates, and exports of primary products are known as ________
a. developed countries b. high-income countries c. industrial market countries d. developing countries
Demand-pull inflation occurs when
What will be an ideal response?