Carlos can produce the following combinations of X and Y: 10X and 10Y, 5X and 15Y, and 0X and 20Y. The opportunity cost of one unit of X for Carlos is

Consider the market for purple magic markers. The demand for purple magic markers is perfectly elastic and the supply curve is upward sloping

If sellers of purple magic markers are taxed $1 per marker, how will the tax be divided between the buyer and seller? A) The sellers will pay the entire tax. B) The buyers will pay the entire tax. C) The tax will be evenly divided between the sellers and buyers. D) More information is needed to determine how the tax is split.

An increase in demand occurs when

A) we measure price in money price rather than real price. B) we move up the demand curve. C) the demand curve shifts to the right. D) the demand curve shifts to the left.