Imports ________ society's total surplus because of the ________ in price and ________ in consumption.
A) increase; rise; increase
B) increase; rise; decrease
C) decrease; fall; increase
D) decrease; fall; decrease
E) increase; fall; increase
Question 2
The cost of producing each bottle of a certain brand of shampoo is 0.25. If the market for shampoo is monopolistically competitive and demand for shampoo is inelastic, a manufacturer who charges 0.35 for each bottle will ________.
A) shut down production in the short run
B) exit the industry in the long run
C) earn an economic profit of 0.10 per bottle
D) earn a total revenue of 0.10 per bottle
Total fertility rates (TFRs) among major regions of the world.
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Total radiative forcing ~1.63 Wm-2
Real Price of Oil, 1861–2010
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