Let D = demand, S = supply, P = equilibrium price, and Q = equilibrium quantity. What happens in the market for electric vehicles if the government offers incentives to manufacturers to produce more electric vehicles?
A) S increases, D no change, P decreases, Q increases
B) D no change, S increases, P decreases, Q decreases
C) D increases, S no change, P and Q increase
D) D and S increase, P and Q decrease
A
Economics
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In the United States between the 1970s and the 2000s, the productivity of labor increased. This increase led to
A) an increase in the demand for labor. B) no change in either the demand for or the supply of labor. C) a decrease in the supply of labor. D) a downward shift of the production function. E) an increase in the supply of labor.
Economics
At the current price of a good Al's consumer surplus equals 15 and Ben's consumer surplus equals 15. By using two-part pricing a monopolist could increase his profit by
A) 8. B) 16. C) 15. D) 30.
Economics