In a competitive market illustrated by the diagram below, a price ceiling of $10 per unit will result in:





A. A shortage of 200 units

B. A surplus of 200 units

C. A surplus of 250 units

D. A shortage of 250 units

A. A shortage of 200 units

Economics

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The table above gives Jane's total utility from magazines and CDs. What is the marginal utility of the sixth CD?

A) 150 units B) 100 units C) 50 units D) 5 units

Economics

The Navigation Acts:

a. placed tariffs on the import of British goods by the colonies. b. prohibited trade between the British West Indies and the colonies. c. allowed colonial trade on British ships commanded by foreign captains. d. encouraged trade between the colonies and the Dutch. e. None of the above is correct.

Economics