Demand shift to the Left=
What will be an ideal response?
price goes down, quantity goes down
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The figure above illustrates the marginal private cost and the marginal social cost to the city of Seattle for each rock concert that is offered. It also illustrates the marginal private benefit. There is no external benefit
The efficient number of concerts in Seattle is A) 0. B) 5. C) 10. D) 20. E) 15.
The table below shows the number of labor hours required to produce one umbrella and one bushel of corn in the United Kingdom and the rest of the world. The United Kingdom has an absolute advantage in the production of Labor hours to make:In the United KingdomIn the Rest of the World1 umbrella3.002.001 bushel of corn1.000.25
A. both corn and umbrellas. B. only corn. C. only umbrellas. D. neither corn nor umbrellas.