The figure above shows the market for cotton in Georgestan. The government regulates the market with a production quota set at 8 million pounds per year. The price of cotton in Georgestan is
A) 30 cents per pound.
B) 40 cents per pound.
C) 60 cents per pound.
D) 50 cents per pound.
C
Economics
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Charlene is willing to pay $5.00 for a sandwich. If Charlene must pay ________ for a sandwich, she ________
A) $4.00; does not receive consumer surplus B) $4.00; receives consumer surplus C) $6.00; receives consumer surplus D) $6.00; receives a marginal cost
Economics
If actual output increases are believed to be temporary, then
A) net investment will fall. B) net investment will increase. C) net investment will not change. D) the effect on net investment is unknown.
Economics