Assume Congress holds a hearing on the impact of gasoline prices on the price of corn. Most likely, this hearing will be
A) a partial equilibrium analysis.
B) a general equilibrium analysis.
C) about consumer rather than producer surplus.
D) an analysis of efficiency.
Question 2
Why might a police officer not pull over someone speeding two miles over the speed limit?
A) The explicit costs of stopping the driver over are too high.
B) The opportunity costs of stopping the driver are too high.
C) The opportunity costs of topping he driver are too low.
D) The explicit costs of stopping the driver are too low.