Suppose biochemists discover an enzyme that can double the amount of ethanol that may be derived from a given amount of biomass. Based on this technological development, we expect the:

Using the above figure, CBL is the cost of breaking the law. What is the equilibrium price and quantity if beer is legal?

A) $5 per quart and 300 quarts of beer B) $3 per quart and 500 quarts of beer C) $3 per quart and 100 quarts of beer D) $1 per quart and 300 quarts of beer

The Mexican peso crisis of 1994 and 1995 was directly related to

A) a large capital account surplus. B) a large capital account deficit. C) an undervalued peso. D) a large current account surplus.