Restaurants catering to both a lunch and dinner trade are likely to mark their prices up above the cost of the food more for dinner than for lunch because
A) the demand is greater at dinner.
B) the demand is less at dinner.
C) the demand is less elastic at dinner.
D) the demand is more elastic at dinner.
C
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One result of a minimum wage is
A) illegal hiring of people at wages below the minimum wage. B) more people with jobs. C) a change in the equilibrium wage. D) lower costs paid by firms. E) fewer people searching for work because they realize that firms have decreased the number of people hired.
Two cities A&B are deciding upon joint pollution laws. Right now they both face identical prices for their housing. If they decide that city A is to be a pollution free city "Clean town" and all the factories would locate in city B "Smogville", in the long run, we expect to see
a. Asthmatics moving to Cleantown b. Poorer families moving to Smogville c. Residents in both the cities relocating based on their tolerance for pollution d. All of the above