Author Question: In most countries in South America, the legal driving age is 18. If the legal driving age in the ... (Read 203 times)

wenmo

  • Hero Member
  • *****
  • Posts: 540
In most countries in South America, the legal driving age is 18.
 
  If the legal driving age in the United States was raised from 16 to 18, how would this affect the market for new and used automobiles? What would happen to the equilibrium price and quantity of new and used automobiles?

Question 2

Veruca sells therapeutic bath salts on the Internet. Her annual revenue is 52,000 per year, the explicit costs of her business are 14,000, and the opportunity costs of her business are 17,000 per year. What is her economic profit?
 
  A) 14,000 B) 21,000 C) 31,000 D) 38,000


pallen55

  • Sr. Member
  • ****
  • Posts: 331
Answer to Question 1

The demand for new and used automobiles would decrease, which would decrease the equilibrium price and quantity.

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

For a complete list of videos, visit our video library