Assume that an individual spends his income on sweaters and shirts. If the price of a sweater increases:
A) the opportunity cost of buying sweaters increases.
B) the opportunity cost of buying sweaters decreases.
C) the opportunity cost of buying shirts increases.
D) There is no change in the opportunity cost of consuming either good.
Question 2
The figure above shows the marginal social cost curve of generating electricity, the marginal private cost curve, and the demand curve.
If the government imposes a pollution tax to achieve the efficient level of production, the tax equals ________ per kilowatt hour. A) 0
B) 7.5
C) 10
D) 15
E) 2.5
Global Stratification: Income of the World's Nations
Saving Rates by Income Quintile, 2003
How an Increase in Income Inequality Affects the Desired Tax Rate
Construct a Lorenz curve that shows income distribution in this society.
A lesion called a plaque in the brain of an individual with Alzheimer disease. A ring of degeneratin
Philip wants to supplement his pension by $415 per month with income from his investments. His ...