Suppose when Nablom's Bakery raised the price of its breads by 10 percent, the quantity demanded fell by 15 percent. What was the effect on sales revenue?
A) Sales revenue increased.
B) Sales revenue decreased.
C) Sales revenue remained unchanged.
D) It cannot be determined without information on prices.
Question 2
An advantage of imposing a tax on the producer that generates pollution is that
A) the government can keep tabs on exactly what is produced in an industry.
B) it forces the polluting producer to internalize the external cost of the pollution.
C) it will eliminate pollution.
D) a producer can pass the cost of the pollution to consumers.
Approximately 40 percent of farmers in the United States are 55 years old or older
Cows being raised for beef are often confined to feedlots, where they may be treated with antibiotic
Price of Computers, 1982–2010
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