An example of a negative externality is:
a. the benefit you receive when your neighbor installs a smoke detector
b. the reduction in profits for your company that occurs when there is a decrease in consumer demand for the product you manufacture.
c. the sleep you lose when your neighbor throws a loud party next door that keeps you awake.
d. the change in the property values of your neighbors' homes when you paint your house and landscape your front yard
c
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The present value of a payment to be made in the future falls as
a. the interest rate rises and the time until the payment is made increases. b. the interest rate rises and the time until the payment is made decreases. c. the interest rate falls and the time until the payment is made increases. d. the interest rate falls and the time until the payment is made decreases.
When the price of a textbook is $100, 60 copies are demanded; and when the price of that textbook goes up to $120, 30 copies are demanded. In the price range between $100 and $120, the demand for the textbook is
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic.