Social disapproval carries a higher cost in all of the following cases except when you:
A. know the people around you.
B. care about the opinions of people around you.
C. expect to interact with the people around you again in the future.
D. have very loose interactions with community members.
D. have very loose interactions with community members.
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A good has a perfectly inelastic supply and a downward sloping demand curve. Imposing a sales tax of $1 per unit on the sellers of the good
A) raises the price paid by demanders by more than $1.00. B) raises the price paid by demanders by $1.00. C) raises the price paid by demanders by less than $1.00. D) does not change the price paid by demanders.
The benefits from cartelizing are greater if
A) the market demand elasticity is higher. B) the market demand elasticity is lower. C) the market price is higher. D) each firm cuts its output more.