What does it mean for a good to have a demand-determined price?
What will be an ideal response?
A demand determined price occurs when a good is fixed in supply. In this case, the price is determined exclusively by the amount that firms and households are willing to pay for the good.
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The capture theory holds that regulations are supplied to maximize ________
A) total sales B) economic profit C) marginal product D) consumer surplus
Which of the following statements about the slave family in the U.S. is most accurate?
a. Slave owners preferred slaves who lived in intact families. b. In most two-parent slave families, the parents lived on different plantations. c. The father was white in about 75 percent of the households headed by single slave mothers. d. About half of children under 15 years of age were sold away from their families.