Assume that an individual spends his income on sweaters and shirts. If the price of a sweater increases:
A) the opportunity cost of buying sweaters increases.
B) the opportunity cost of buying sweaters decreases.
C) the opportunity cost of buying shirts increases.
D) There is no change in the opportunity cost of consuming either good.
Question 2
The figure above shows the marginal social cost curve of generating electricity, the marginal private cost curve, and the demand curve.
If the government imposes a pollution tax to achieve the efficient level of production, the tax equals ________ per kilowatt hour. A) 0
B) 7.5
C) 10
D) 15
E) 2.5
Distribution of the Income of Americans
Sociologists use income, education, and occupational prestige to measure social class. For most ...
Individual Tubule Functions
E9-23 Prepare income statements Explain the difference in operating income
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Differences in brain metabolism in the brain of an unaffected individual (upper) and a schizophrenic