The graph shows the market for ski chalets in Aspen. The Aspen Tourist Board asks the local government to impose a rent ceiling on ski chalets. If the rent ceiling is set at $1,900 a week, then there is
A) a shortage of 3,000 chalets a week.
B) a surplus of 3,000 chalets a week.
C) neither a shortage nor surplus of chalets.
D) a shortage of 6,000 chalets a week.
E) a surplus of 6,000 chalets a week.
A
Economics
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The best method to reduce pollution is
A) to never start polluting. B) to establish private property rights. C) dependent upon the characteristics of the resources and the transaction costs. D) dependent upon the quality of government bureaucrats and the level of greed in the society.
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Which of the following common experiences provides support for the notion of diminishing marginal utility?
a. regret after switching b. satisfaction after recreation c. debt after spending d. fullness after eating
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