Suppose the market for tortillas is initially in equilibrium, but then the equilibrium wage rate and the equilibrium quantity of labor both increased. What happened in the market for tortilla?
A) The demand for tortillas increased.
B) The demand for tortillas decreased.
C) The supply for tortillas increased.
D) The supply for tortillas decreased.
Answer: A
Economics
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The figure above shows the costs and benefits associated with producing paper. What is the marginal external cost when output is 6 tons?
A) $1,600 B) $1,200 C) $1,000 D) $600 E) $400
Economics