Economic models are NOT used to
A) explain economic phenomena.
B) predict economic phenomena.
C) understand economic phenomena.
D) describe all economic phenomena in minute detail.
Question 2
If a corporation were forced to absorb the cost of a spillover from the production of a good, this would likely cause the supply curve for the good to
A) shift out.
B) shift to the left.
C) shift to the right.
D) None of the above are correct.
