Refer to Figure 4-1. If the market price is $3.00, what is the consumer surplus on the second ice cream cone?

If the government taxes an industry that creates pollution, the tax

i. decreases the pollution. ii. increases the price of the product produced by the firms. iii. decreases the quantity of the good produced. A) i only. B) ii only. C) ii and iii. D) i and iii. E) i, ii, and iii.

The ________ the exchange rate, the ________ are foreign-produced goods and hence the smaller the quantity of dollars supplied

A) lower; more expensive B) lower; cheaper C) greater; cheaper D) greater; more expensive