Which of the following increases the quantity supplied of compact discs but does NOT increase the supply of compact discs?
A) new technology that lowers the cost of producing compact discs
B) a decrease in the price of a compact disc
C) an increase in the price of a compact disc
D) a decrease in the number of suppliers of compact discs
E) an increase in the price of the resources used to produce compact discs
C
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From 1890 to 2010, countries with lower levels of real GDP per person than the United States all had growth rates that are lower than that of the United States.
a. true b. false
The table above shows the marginal benefit that arises from providing police protection in an economy of two people, Paul and Art. Police protection is a public good
a) Construct a table of the economy's marginal social benefit from providing police protection. b) What is the economy's marginal social benefit from having 3 police cars on duty?