Measures of student performance have not increased even though per-pupil government subsidies have increased because
A) there is a need for more funds to be spent.
B) we have declining enrollment in public schools.
C) parents and children value the last unit of educational services received more than the cost.
D) parents and children value the last unit of educational services received less than the cost.
D
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Refer to the diagram above, which represents a country's supply and demand for an internationally traded good
If PW is the world price, and a foreign country engages in dumping by selling at P1, the country's producer surplus will ________ by ________. A) increase; abcd B) decrease; abcd C) increase; bcd D) decrease; a
Suppose a monopolist's costs and revenues are as follows: ATC = $50.00; MC = $45.00; MR = $40.00; P = $55.00. The firm should
A) increase output and decrease price. B) decrease output and increase price. C) not change output or price. D) shut down.