If you were a government official that wanted to raise the equilibrium price of milk, which of the following actions would you take?
a. Take milk from government storage and sell it.
b. Encourage farmers to produce more milk.
c. Subsidize purchases of dairy equipment.
d. Encourage farmers to produce less milk.
Question 2
If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the equilibrium price of cigarettes will fall. This fall in the equilibrium price can be attributed to a(n):
a. upward movement along the supply curve for cigarettes.
b. rightward shift of the supply curve for cigarettes.
c. upward movement along the demand curve for cigarettes.
d. leftward shift of the supply curve for cigarettes.
Comparison of reactions at equilibrium and steady state
Effect of Perceived Price of a Drug on Placebo Analgesia
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
Low-fat milk provides a whole host of nutrients
Real Price of Oil, 1861–2010
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.