Refer to the above graph with three demand curves. An "increase in quantity demanded" would be illustrated by a change from:

Which of the following statements can used to describe efficiency?

I. Efficiently using resources means that producers make the highest profits possible. II. Using resources efficiently means that we cannot produce more of one good without producing less of another good that has a higher value. III. Resource use is efficient when we produce goods and services that people value most highly. A) I only B) I and II C) II and III D) I, II and III

When the criterion used by elected representatives of government who make choices about the production and allocation of public goods is whether the choices promote their own self-interest (staying elected), this is an example of a

a. free-rider problem b. positive externality c. public choice issue d. government subsidy e. market failure