Suppose the world price of a good is $4. Based on the table below, the country would
Price Q Demanded Q Supplied
2 100 70
4 95 75
6 90 80
8 85 85
10 80 90
12 75 95
A) import 20 units.
B) export 20 units.
C) import 10 units.
D) export 10 units.
A
Economics
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Refer to Figure 4-8. Suppose that instead of a rent ceiling, the government imposed a price floor of $2,000 per month for apartments. What is the value of producer surplus after the imposition of the price floor?
A) $40,000 B) $240,000 C) $270,000 D) $290,000
Economics
Which of the following are most likely to become an endangered species?
A) animals in the wild B) domesticated animals C) animals that people like to keep at home as pets D) animals that people have property rights to own
Economics