The ________ a good or service is, the ________ its price is likely to be
A) more scarce; higher
B) more scarce; lower
C) more available; higher
D) more available; more unstable
A
Economics
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The public education system is an example of
A) an income maintenance program. B) a negative income tax. C) the poor paying more than the market price for a service they receive. D) a subsidized service.
Economics
Suppose when the price of jean-jackets increased by 10 percent, the quantity supplied increased by 16 percent. Based on this information the price elasticity of supply of jean-jackets is
A) 6%. B) 1.6%. C) 1.6. D) 0.625.
Economics