An increase in costs associated with additional security measures taken by the airlines is most likely to lead to:
a. a decrease in equilibrium price and a decrease in equilibrium quantity.
b. a decrease in equilibrium price and an increase in equilibrium quantity.
c. an increase in equilibrium price and a decrease in equilibrium quantity.
d. an increase in equilibrium price and no change equilibrium quantity.
c
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Which of the following involves using resources to produce the maximum amount of goods and services?
a. utilization b. underutilization c. efficiency d. overefficiency
The above figure shows the marginal private benefit and marginal social cost of a college education. If students receive a $10,000 voucher
A) no students will go to college. B) less than 10 million students will go to college. C) 10 million students will go to college. D) more than 10 million students will go to college.