Which proposal do you think best serves the interests of consumers? Why? Which proposal do you think best serves the interests of a member of Congress? Why? Q152: In recent years, school choice has been a hotly debated issue. Explain whether education is a public good. If education is not a public good, why should […]
Which of the following are public goods?a. Air bags b. Pencils c. Cycle helmets d. Smoking e. Contact lenses
Suppose the government imposes rent control (a price ceiling) below the equilibrium price for rental housing. Which of the following will result? a. Black markets b. The quality of existing rental housing deteriorates c. Shortages d. All of the above
If the price of a good or service increases and the total revenue received by the seller declines, is the demand for this good over this segment of the demand curve elastic or inelastic? Explain.
Will each of the following changes in price cause total revenue to increase, decrease, or remain unchanged? a. Price falls, and demand is elastic. b. Price rises, and demand is elastic. c. Price falls, and demand is unitary elastic. d. Price rises, and demand is unitary elastic. e. Price falls, and demand is inelastic. f.
Demand is unitary elastic Read More »
A change in a third variable not on either axis of a graph is illustrated by a a. horizontal or vertical line. b. movement along a curve. c. shift of a curve. d. point of intersection.
What is used to illustrate an independent relationship between two variables? a. An upward-sloping curve b. A downward-sloping curve c. A hill-shaped curve d. A horizontal or vertical line
Horizontal or vertical line Read More »
The principle that there is a direct relationshipbetween the price of a good and the quantity sellers are willing to offer for sale in a defined time period, ceteris paribus, is the ___________. Q116: Which of the following will increase the demand for large automobiles? a. A fall in the price of small automobiles b.
Suppose coal-burning firms are emitting excessive pollution into the air. Suggest two ways the government can deal with this market failure. Explain the impact of external costs and external benefits on resource allocation. Why are public goods not produced in sufficient quantities by private markets?
Coal-burning firms Read More »
Which of the following are public goods? a. Air bags b. Pencils c. Cycle helmets d. Smoking e. Contact lenses
For faster services, inquiry about new assignments submission or follow ups on your assignments please text us/call us on +1 (251) 265-5102