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Cathy can take either of two separate roads to drive to work. The first is a lightly used new toll road that is rarely congested. The second road is a local road with no tolls, but it is often congested and has many potholes. In this instance, the toll road is

If the demand for software engineers ____________ slower than does supply, then wages of software engineers will ____. 

How does a marketable permit program encourage innovation?

Which of the following is the most appropriate response of public policy to a negative externality like pollution?

Using a graphical approach, once you have found the optimal level of output for the monopolist, how would you find the corresponding price?

Which of the following is NOT an example of a monopoly?

When Marietta chooses to only purchase a combination of goods that lie within her budget line, she:

 In contrast to goods and services markets, ______________ are rare in labor markets, because rules that prevent people from earning income are not politically popular.

Antitrust laws were created to give government the power to 

 If a graph is used to compare total revenue and total cost of a perfectly competitive firm, then the horizontal axis of the graph will represent the __________ and the vertical axis will represent ________________________________.