If sanctions are imposed on buyers but NOT on sellers of an ...

[corkyiscool3328]

If sanctions are imposed on buyers but NOT on sellers of an illegal good, then the equilibrium price ________ and the equilibrium quantity ________.
 
  A) rises; increases
  B) rises; decreases
  C) falls; increases
  D) falls; decreases

Question 2

The above table gives some cost data for Peter's Pickles. Peter's fixed cost is 20. Average variable cost (AVC) is lowest when output is equal to
 
  A) 1 barrel of pickles.
  B) 2 barrels of pickles.
  C) 3 barrels of pickles.
  D) 4 barrels of pickles.

[alexanderhamilton]

Answer to Question 1

D

Answer to Question 2

C

[corkyiscool3328]

Correct answers!

[alexanderhamilton]

Great! Please up vote