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Author Question: When a good is made illegal, which of the following definitely results in the price rising? A) a ... (Read 101 times)

nramada

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  • Posts: 580
on: Jun 29, 2018
When a good is made illegal, which of the following definitely results in the price rising?
 
  A) a much higher fine on sellers than on buyers
  B) a much higher fine on buyers than on sellers
  C) any fine imposed on both buyers or sellers
  D) any fine imposed on buyers

Question 2

The elasticity of supply equals ________ if the supply curve is vertical.
 
  A) 0
  B) 1
  C) infinity
  D) -1


srodz

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  • Posts: 333
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


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