Assume an industry initially in equilibrium has a price ceiling imposed at a price below the equilibrium price. Total revenue received by the producers from sales will:
a. rise as a result

Table 1.1 shows the hypothetical trade-off between different combinations of Stealth bombers and B-1 bombers that might be produced in a year with the limited U.S. capacity, ceteris paribus.Table 1.1Production Possibilities for BombersCombinationNumber of B-1 BombersOpportunity cost(Foregone Stealth)Number of Stealth BombersOpportunity cost (Foregone B-1)S0NA10 T1 9 U2 7 V3 4NAOn the basis of Table 1.1, you may infer that the law of increasing opportunity costs applies to increasing production of

A. Stealth bombers but not to B-1 bombers. B. B-1 bombers. C. Both B-1 bombers and Stealth Bombers. D. Neither B-1 bombers or Stealth Bombers.

Special interest groups, in the theory of regulation, may be defined as:

A. self-interested individuals who benefit from regulation. B. public-spirited individuals who will benefit from regulation. C. self-interested individuals who will suffer from regulation. D. public-spirited individuals who will suffer from regulation.