The above figure shows the market for neckties. Based on the graph, how much tax per necktie has been imposed by the government?
A) $1.25 per tie
B) $1.00 per tie
C) $0.75 per tie
D) More information is needed to determine the tax that the government has imposed.
B
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Which of the following antebellum transportation innovations earned the greatest rate of return?
a. corporate-owned turnpikes b. the National Road c. the Erie Canal d. the Mainline Canal
Everyone in the neighborhood has been complaining about the deteriorating condition of the park, but nobody has cleaned it up. Why not?
A. No single person's benefit from cleaning the park exceeds that person's cost of cleaning it. B. There is an excess demand for parks in the neighborhood. C. There is an excess supply of parks in the neighborhood. D. The social benefit of cleaning the park exceeds the social cost of cleaning it.