1. A company decides to eliminate the pollution it was causing. The result was a "socially efficient level of production, but the cost of production increased. What happens to the equilibrium price and quantity demanded? 1. The price decreases and the quantity demanded decreases 2. The price increases and the quantity demanded increases 3. The price increases and the quantity demanded decreases 4. The price decreases and the quantity demanded decreases

Select the concept that correspond to each description It is a plan of action undertaken by government officials to achieve some broad purpose affecting substantial segment of a nation's citizens. Public policy It refers to policies in housing, health care, and education. [Choose] National values, such a freedom, [Choose ] democracy, and a fair chance for all citizens to share in economic prosperity, have led to the adoption of civils rights laws and economic assistance for those in needs They may cause businesses to improve the way lead is used in the workplace to reduce health risk, but also companies can removes pregnant woman from their job to avoid the health risk. [Choose ] They are external pressure that shapes a [Choose ] government's policy decisions and strategies to address a problem.

d. Government imposes costly new regulations to make oil drilling a safer job.

Part I The headline about Russian wheat suggests the market is broken. Illustrate the supply and demand for Russian wheat indicating the price in relation to equilibrium. Explain why the market is "broken," and what needs to occur to fix the market. Russian wheat trade falls silent as price floor leaves market 'broken' HIGHLIGHTS Russian wheat not offered below $275/mt since late March Government believed to have intervened to support prices, farmers Traders assess pricing power of Russian state in global market Part II Derive the demand and supply functions using the numbers in the table and calculate equilibrium price and quantity. Graph supply and demand and indicate equilibrium price and quantity. The government wants to help sugar consumers by setting the price at $2.50. Explain the outcome (in terms of Q and D) and your advice in this situation. Illustrate the effect on the same graph and be sure to indicate price and quantities. Price/bag Quantity demanded (bags of sugar)…

Marginal Average Marginal Total Output Price Revenue Total Cost Cost 1 $ 100 $ 100 $ 100.00 $30 2 90 80 63.00 26 80 60 52.67 32 4 70 40 49.50 40 5 60 20 49.60 50 50 50.00 52 7 40 -20 52.29 66 30 -40 55.75 80 20 -60 60.67 100 10 10 -80 67.60 130 Refer to the data for a nondiscriminating monopolist. This firm will maximize its profit by producing

would you be able to finish the remaining blank slots?