The above figure shows Jane's budget line and two of her indifference curves. If the price of a lobster dinner falls so that Jane can now purchase the combination represented by Point B, Jane would experience
A) an increase in the opportunity cost of a lobster dinner.
B) no change in her marginal rate of substitution.
C) an income and a substitution effect.
D) Both answers B and C are correct.
Question 2
A natural monopoly occurs when
A) one firm owns all the vital resources needed to produce a particular good.
B) economies of scale allow one firm to supply the entire market at the lowest possible cost.
C) a few firms collude to act as a single firm.
D) one firm captures all the consumer surplus.
Larynx, trachea, bronchi, and lungs with an expanded view showing the structures of an alveolus and
A container with gasoline containing alcohol. Notice the separation line where the alcohol-water ...
Right lateral view showing low normal curves of the vertebral column
Identify the junction nodes in the circuit shown in Figure 21-1.
Events in human fertilization. The light micrograph shows a fertilized human oocyte.
The forked-line method for determining gamete genotype frequency