An economy that does not trade with the rest of the world is known as a(n) ________ economy

Explain why a producer who is causing external costs does not have the incentive to reduce these costs

What will be an ideal response?

Jennifer learns that the price of CDs will be going up 10 percent next week. She usually buys three CDs per week. What happens to Jennifer's demand for CDs this week?

a. It does not change because only quantity demanded changes when price changes. b. It increases because the price will be lower next week. c. It decreases because the price will be higher next week. d. It increases because the price will be higher next week. e. It decreases because the price will be lower next week.