How will an increase in lumber prices influence the home construction market?
a. The demand for newly constructed homes will increase.
b. The demand for newly constructed homes will decrease.
c. The supply of newly constructed homes will increase.
d. The supply of newly constructed homes will decrease.
D
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Refer to Figure 13.2. Oliver's political views initially placed him at the L4 position and George's political views initially placed him at the C4 position
If George comes out with a statement supporting an increase in taxes on the rich, which moves him to the C3 position, and Oliver responds by not only stating that taxes should not be raised, but in fact should be lowered, moving him to the L2 position, the winner of the election will be ________ with a winning vote total of ________. A) Oliver Cousins; 6 votes B) George Glass; 5 votes C) Oliver Cousins; 5 votes D) George Glass; 6 votes
When a monopolist engages in perfect price discrimination, the quantity produced and sold
A) could be lower, higher, or the same as that produced and sold if it adopted a single price. B) is lower than the quantity produced and sold if it adopted a single price. C) is larger than the quantity produced and sold if it adopted a single price. D) is the same level as that produced and sold if it adopted a single price.