A given supply curve has a zero intercept. At the current equilibrium price the price elasticity of supply equals

Sofia, a political science student, thinks that the government should intervene to revive declining industries like video rentals and print newspapers

The government, she reasons, can resolve the coordination problem of getting the agents in these markets to trade. Do you agree with her? Explain your answer.

Refer to Figure 2-9. Carlos Vanya grows tomatoes and strawberries on his land. A portion of his land is more suitable for growing tomatoes and the other portion is better suited for strawberry cultivation

Which of the graphs in Figure 2-3 represent his production possibilities frontier? A) Graph A B) Graph B C) Graph C D) either Graph A or Graph B E) either Graph B or Graph C