Blog

If the maintenance fees for a lighthouse are paid in full each year by charging port fees, then the lighthouse is

In a free market economy, firms operating in a perfectly competitive industry are said to have only one major choice to make. Which of the following correctly sets out that choice? 

Most people who cook consider margarine and butter to be substitutes. If the price of butter increases, then in the market for margarine:

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: