The president of Tucker Motors says, "Lowering the price won't sell a single additional Tucker car." The president believes that the price elasticity of demand is:

The economy's marginal social benefit curve for a public good is equal to the ________

A) horizontal sum of the individual demand curves B) vertical sum of the individual marginal benefit curves C) horizontal sum of the individual marginal benefit curves D) vertical sum of the individual supply curves

There is a 15 percent increase in the price of lumber used by a firm that builds new homes. This causes

A) a decrease in the quantity of new homes supplied. B) an increase in the supply of new homes. C) an increase of the quantity supplied of new homes. D) a decrease in the supply of new homes.