The table above shows Tom's total utility from milkshakes and sodas. Tom's total budget for milkshakes and sodas is $10.00 per week. Milkshakes cost $2.00 each and sodas cost $1.00 each
What quantity of milkshakes does Tom purchase at his consumer equilibrium? A) one
B) two
C) three
D) four
D
Economics
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When positive externalities exist, the government must _________ the production of the good generating the externalities in order to achieve ___________
a. allow the market to dictate; a socially optimal allocation of resources b. tax; a socially optimal allocation of resources c. subsidize; a socially optimal allocation of resources d. subsidize; market equilibrium e. tax; market equilibrium
Economics
The pursuit through government of a "transfer of wealth" at someone else's expense refers to:
A. logrolling. B. rent-seeking behavior. C. the paradox of voting. D. the median-voter model.
Economics