Question 1
The notion that the government becomes the tool of the rent seeker and makes the allocation of resources even less efficient than before is known as ________ and is described in ________.
◦ rent-seeking; public choice theory
◦ government failure; public choice theory
◦ collusion; conspiracy theory
◦ discrimination; conspiracy theory
Question 2
Refer to the information provided in Figure 13.10 below to answer the question(s) that follow.
Refer to Figure 13.10. If Armstrong Cable were free to sell to any number of subscribers it desires and set any price, it would sell to ________ subscribers at a price of ________.
◦ 800; $15
◦ 1,000; $16
◦ 2,200; $13
◦ 2,500; $12
Answer
How to solve word problems with two unknowns (Question 1)
Question 37 Part 2
economic question
economic question
economic question