The median voter model predicts a strong tendency for both candidates to choose a position away from the middle of distribution

The problem of excess pollution mainly occurs because of

A) asymmetric information. B) a positive externality. C) a negative externality. D) a monopoly.

The price of a new toy increases from $5 to $7 and the quantity demanded decreases from 12,000 to 6,000 per month as a result. Based on this information, the price elasticity of demand (in absolute terms) is estimated to be equal to:

a. 0.5, indicating relatively elastic demand. b. 0.5, indicating relatively inelastic demand. c. 2.0, indicating relatively elastic demand. d. 2.0, indicating relatively inelastic demand.