Andrew is unfamiliar with any of the candidates positions, so he rolls a dice to decide who to vote for in the governor's election. This is an example of naive voting

In order to derive an individual's demand curve for salmon, we would observe what happens to the utility-maximizing bundle when we change

A) income and hold everything else constant. B) tastes and preferences and hold everything else constant. C) the price of a close substitute and hold everything else constant. D) the price of the product and hold everything else constant.

A good that has external costs associated with its production will be

A) produced at the optimal level. B) underproduced. C) overproduced. D) not produced.