According to research by James Shepherd and Samuel Williamson, colonial coastal commerce comprised about _________ of the volume of total overseas trade
a. one-tenth
b. one-third
c. one-half
d. three-fourths
b. one-third
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In the research that used the audit method to send 38 people to purchase new cars from car dealers in Chicago, the lowest prices were quoted to
A) black women. B) white women. C) black men. D) white men.
With a two-part tariff:
A. consumers simply pay a fixed fee if they buy anything at all. B. consumers pay a fixed fee if they buy anything at all, plus a separate per-unit price for each unit they buy. C. consumers pay a fixed fee if they buy anything at all, plus an annual fee for the right to purchase anything. D. consumers simply pay a fee for the right to buy anything.
A tavern is likely to have a ______________________ price elasticity of supply than does an antiques dealer due to ______________________.
A. more elastic; availability of inputs B. less elastic; availability of inputs C. less elastic; a longer adjustment time D. less elastic; a shorter adjustment time
Explain why public goods can be classified as market failure? Explain what problem arises when public goods are produced?
What will be an ideal response?