In the above figure, the opportunity cost of moving from point A to point C is

Using average price and average quantity, calculate the price elasticity of demand if a price rise from $8 to $10 and decreases the quantity demanded from 20 units to 15 units. The price elasticity of demand equals

A) 2.5. B) 1.29. C) 0.78. D) 0.06

Equilibrium in the market for special interest benefits is determined where _____

a. the marginal cost of lobbying politicians is equal to the marginal benefits received from government b. the marginal political opposition is equal to the marginal political support c. the marginal price of a vote for a program is equal to the marginal benefit of that additional vote d. the marginal price of regulation is equal to the marginal benefit from that regulation