Demand for a product is given by Q = 200 - P and supply is given by Q = 0.5P - 10. If the quantity demanded rises by 10 units at every possible price, then the equilibrium quantity will be

If MR>MC, then the firm should

a. increase production b. decrease production c. keep the prices constant d. keep the production level constant

Which of the following government programs are likely to aid the poor more than those in upper income brackets?

a. subsidies to museums b. state-subsidized higher education benefits c. school lunch programs d. government subsidies to airports