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
Unique markings identify individual humpback whales.
Alan Price - Poor People
Global Stratification: Income of the World's Nations
Saving Rate by Decile of Income per Capita
Infant mortality by income quintile, urban Canada, 1996
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...