If the income effect is ________ the substitution effect, the labor supply curve is vertical.

The figure above illustrates the problem of overcrowding and external costs experienced during the summer months in the state park

If the market is unregulated, in equilibrium the external cost of visiting the state park is given by the distance between A) points H and G. B) points I and F. C) points F and G. D) points G and K.

Stampp (1976) finds evidence to suggest that the Southern slave owners were operating at losses, not profits

Indicate whether the statement is true or false