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Author Question: If enforcement is aimed at sellers of an illegal good, its equilibrium price will ________ and its ... (Read 76 times)

biggirl4568

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on: Jun 29, 2018
If enforcement is aimed at sellers of an illegal good, its equilibrium price will ________ and its equilibrium quantity will ________.
 
  A) rise; increase
  B) rise; decrease
  C) fall; increase
  D) fall; decrease

Question 2

Which of the following statements is FALSE?
 
  A) A consumer has only one indifference curve.
  B) A consumer possesses a preference map.
  C) An indifference curve is a curve that shows the combination of goods among which a consumer is indifferent.
  D) The marginal rate of substitution is the rate at which a consumer will give up good y to get more of good x and remain on the same indifference curve.


memslove

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


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