Suppose that in a month the price of a liter of soda increases from $1 to $1.50. At the same time, the quantity of liters of soda supplied increases from 200 to 210. The price elasticity of supply for liters of soda (calculated using the initial value formula) is:

Using the compensating differential approach, the value of a life is calculated as

A) the compensating differential multiplied by the increased chance of death. B) the sum of the compensating differential and the increased chance of death. C) the compensating differential divided by the increased chance of death. D) the difference between the compensating differential and the increased chance of death.

According to the graph shown, if the market goes from equilibrium to having its price set at $10:

A. market transactions will decrease by 7. B. market transactions will decrease by 10. C. market transactions will not change, only price has changed. D. market transactions will decrease by 3.