The figure above shows the market for tires. The government has imposed a tax on tires, and the buyers pay ________ of the tax
A) $10
B) $20
C) $50
D) $60
E) $30
A
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Assortative mating means that
A) poor women and rich men tend to marry. B) rich women and rich men tend to marry. C) rich women and poor men tend to marry. D) there are limited incentives to marry anyone.
Ticket scalping can increase total surplus in the market for tickets to sporting events
a. True b. False Indicate whether the statement is true or false
Economic variables whose values are measured in goods are called
a. dichotomous variables. b. nominal variables. c. classical variables. d. real variables.
At Tony's Restaurant, the quantity of large pizzas sold is 200 at the unit price $15. Suppose the price elasticity of demand for pizzas by the initial value method is 1.5, and you would like to increase the quantity sold to 250. Then the new price must be:
A. $13. B. $12.50. C. $11.50. D. $11.25.