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Author Question: If sanctions are imposed on buyers but NOT on sellers of an illegal good, then the equilibrium price ... (Read 162 times)

corkyiscool3328

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on: Jun 29, 2018
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

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


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corkyiscool3328

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Reply #2 on: Jun 29, 2018
Correct answers!


alexanderhamilton

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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