Many forms of seafood (lobster, crab legs, etc.) are consumed by dipping the meat in melted garlic butter. If someone suggested that it would therefore be equally appealing to drink melted butter after having eaten garlic and unseasoned seafood, you would know they had fallen victim to which of the following?

Governments may successfully intervene in competitive markets in order to achieve economic efficiency

A) at no time; competitive markets are always efficient without government intervention. B) to increase the incidence of positive externalities. C) in cases of positive externalities only. D) in cases of negative externalities only. E) in cases of both positive and negative externalities.

Suppose the respective prices of yogurt, candy bars, and popcorn in Year 1 are $1, $2, and $3 . In Year 2, the unit prices of each are $2, $3, and $4 respectively. Which of the following statements is true of the price level between Year 1 and Year 2? a. It decreased by 20 percent

b. It increased by 33 percent. c. It increased from $6 to $9. d. It decreased at a rate between 20 percent and 50 percent. e. It increased at a rate between 33 percent and 100 percent.