Starbucks sells coffee in both New York City and in rural upstate New York. The price of coffee is higher in New York City.
This fact means that the value of marginal product of land is ________ in New York City and so Starbucks is willing to pay a ________ rent in New York City. A) lower; lower
B) higher; lower
C) lower; higher
D) higher; higher
Question 2
The above figure shows Jane's budget line and two of her indifference curves. Which of the following happens to Jane's budget line if the price of a steak dinner fell?
A) It would rotate inward around the vertical intercept, 10 lobster dinners.
B) It would rotate outward around the vertical intercept, 10 lobster dinners.
C) It would rotate inward around the horizontal intercept, 20 steak dinners.
D) It would rotate outward around the horizontal intercept, 20 steak dinners.
In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th
This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern
Rural versus Urban Population, 1820–1860
This lithograph of the New York draft riots, 1863, shows that although the rioters mainly targeted b
Coffee beans
The population of a city has continued to grow since 1950.