All else constant, a large decrease in the number of people who want to own sport utility vehicles (SUVs) because of their poor fuel efficiency could be expected to cause:
A) an increase in the supply of SUVs.
B) a decrease in the equilibrium price of gasoline.
C) an increase in the equilibrium price of SUVs.
D) an increase in the supply of gasoline.
B
Economics
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What is the rationale for public provision of such services as education and primary health care? What alternatives to public provision might be considered?
What will be an ideal response?
Economics
Market failure can result from market outcomes that:
a. result in too few resources devoted to a good. b. result in too many resources devoted to a good. c. may justify government intervention. d. all of these.
Economics