If parking spaces on a college campus are scarce, with quantity demanded during the "peak" hours, from 8 a.m. to 11 a.m., far greater than the number of spaces, an economist would propose as an efficient solution,
a. lowering the parking fees during those hours to compensate students for the longer search time.
b. charging the same parking fees during all hours of the school day.
c. raising parking fees during the peak hours to encourage some students to schedule classes during other hours when parking fees are lower.
d. hiring more security guards to patrol for illegal parkers.
c
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Karen, Tara, and Chelsea each buy ice cream and paperback novels to enjoy on hot summer days. Ice cream costs $5 per gallon, and paperback novels cost $8 each. Karen has a budget of $80, Tara has a budget of $60, and Chelsea has a budget of $40 to spend on ice cream and paperback novels. Who can afford to purchase 5 gallons of ice cream and 8 paperback novels?
a. Karen, Tara, and Chelsea b. Karen only c. Tara and Chelsea but not Karen d. none of the women
Who does not gain when a tariff is imposed?
A. Domestic producers of the good. B. Domestic workers in the protected industry. C. Domestic consumers of the good. D. Domestic suppliers in the protected industry.