When the pill was approved for sale in the United States in 1960:
A. it immediately and significantly revolutionized the labor force participation of all women.
B. it was met with a lot of resistance and was even illegal in many places.
C. it had already been legalized since many states anticipated its approval for years.
D. new laws were written to make it illegal, and it remains technically illegal to this day.
Ans: B. it was met with a lot of resistance and was even illegal in many places.
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A change in the demand for apples could result from any of the following EXCEPT
A) a change in the number of buyers. B) increased preferences for fresh fruit consumption for health reasons. C) a change in the price of an apple. D) a change in the price of a banana. E) a change in income.
Using the figure above, suppose a subsidy of $15,000 per student is provided to private colleges. When the market is in equilibrium, marginal social benefit ________ marginal cost, and the number of students enrolled is ________
A) exceeds; above the efficient quantity B) exceeds; below the efficient quantity C) is below; above the efficient quantity D) is below; below the efficient quantity E) equals; efficient