Refer to the table above. Which of the following statements is true?
A) There is a surplus of 10 notebooks in the market when the price of one notebook is $8.
B) There is a shortage of 4 notebooks in the market when the price of one notebook is $6.
C) There is a shortage of 12 notebooks in the market when the price of one notebook is $4.
D) There is a surplus of 4 notebooks in the market when the price of one notebook is $5.
D
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External costs are
A. borne by individuals other than those who incurred them. B. borne by the government but incurred by the public. C. another term for implicit costs. D. borne by the public but incurred by the government.
The 2017 price level in Japan was relatively lower than the price level in the United States. Thus, a U.S. manufacturing facility looking to buy aluminum for its plant would most likely buy aluminum from Japan.
Answer the following statement true (T) or false (F)