If saving equals $200 when real disposable income equals $1,000, the break-even income is

Define the following terms and explain their importance to the study of economics. a. monopolistic competition b. oligopoly c. cartel d. oligopolistic interdependence

What will be an ideal response?

Suppose Johnson's Rubber Factory belches black smoke into the air over the city of Bellowsville. If the city of Bellowsville attempts to internalize the external costs associated with the production of rubber with a pollution tax, then we expect:

A. a leftward shift of Johnson's supply curve. B. a rightward shift of Johnson's supply curve. C. no change in Johnson's supply curve. D. a leftward shift in the demand curve for Johnson's rubber.