Because _____ has two official languages (French and English), it is one of the world's leaders in multiculturalism and government policy

If the price of oil goes up by 50% and the quantity demanded goes down by 25%, the absolute value of the price elasticity of demand is

A) 0.25. B) 0.50. C) 0.75. D) 1.00.

If the market equilibrium quantity is less than the socially optimal quantity, one can infer that:

A. the private demand curve for the activity is above the socially optimal demand. B. the private supply curve for the activity is below the socially optimal supply curve. C. there is a negative externality associated with this good. D. there is a positive externality associated with this good.