BatheGroom0675134183222251270Kaitlyn and Larissa have formed a dog bathing and grooming business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. The opportunity cost of grooming the third dog in a day is bathing ________ dog(s).

Use a graph to demonstrate why quotas are likely to cause increased deadweight losses over time

What will be an ideal response?

Between 1980 and 1990, the national debt

a. decreased from approximately $300 billion to $100 billion b. decreased from approximately $3 trillion to $1 trillion c. as a percent of GDP, decreased d. remained relatively unchanged as a percentage of GDP e. increased from approximately $1 trillion to over $3 trillion