The long-term impact of Munn v Illinois (1877) on regulatory efforts was
(a) to hold back federal efforts to regulate business.
(b) to prevent states from regulating interstate trade.
(c) to provide a temporary justification for regulating business.
(d) to establish government as able to regulate all businesses permanently.
(d)
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If the marginal benefit of a good exceeds its marginal cost
A) we've achieved efficient resource use. B) we should produce more to achieve the allocatively efficient use of resources. C) we should produce less to achieve the allocatively efficient use of resources. D) we cannot tell if more or less should be produced to achieve the allocatively efficient use of resources.
Which of the following is likely hardest to resell?
A) An Apple iPod B) A discount airline ticket you bought with your frequent flyer miles C) A used car D) The free spa treatment you won at a raffle