Consider a demand curve for reckless driving, for which the "price of reckless driving" is interpreted as the probability of having a fatal accident. When could safer cars lead to an increase in total number of driver fatalities?
a. Always.
b. Never.
c. When the demand curve is relatively flat.
d. When the demand curve is relatively steep.
c. When the demand curve is relatively flat.
Economics
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What is the national security argument for restricting international trade? What is its flaw?
What will be an ideal response?
Economics
When a monopolistically competitive firm lowers its price, one good thing happens to the firm. What is this "one good thing" called?
A) the income effect B) the price effect C) the substitution effect D) the output effect
Economics