In the above figure, if the milk industry is perfectly competitive, then the firm's marginal revenue curve is represented by

When housing prices ________ as they did beginning in 2006 following the housing market bubble, most banks and other lenders tightened the requirement for borrowers, making it ________ for potential home buyers to obtain mortgages

A) fell; easier B) rose; easier C) rose; harder D) fell; harder

Which of the following will likely occur when price floors in agriculture are implemented?

A) Quantity supplied will exceed quantity demanded. B) Quantity demanded will exceed quantity supplied. C) Farmland will be underutilized. D) Supply will decrease.