In order to control the amount its citizens smoke, the government imposes a tax on cigarettes. Which consequence will ensue? O a. The price of cigarettes will increase, and the amount purchased will remain the same. Ob. The price of cigarettes will decrease. O c. The supply of cigarettes will decrease. O d. The total market for cigarettes will be reduced.

An oligopolist can price discriminate if it is able to customers with inelastic demand. Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a b C d raise, raise raise, lower lower, raise. prices on customers with elastic demand and lower, lower prices on

What is the rationale for FDA regulation of drugs? To protect the consumer from dangerous drugs Because physicians may not be knowledgeable about all the new drugs in the market Both a and b Neither a nor b

BND11.1 Why Do Externalities Cause Deadweight Loss?

In the U.S the group of people with the loudest voice is ? working class or midde class or the wealthy

Susan and Katy share an apartment, which they have decided to decorate for the holidays. The figure below shows Susan's and Katy's individual demand for strands of lights, measured metres. Price ($) 40 32 24 20 16 12 Dsusan DKaty 4 10 15 20 25 Quantity If Susan and Katy were to individually decide how many metres of lights to purchase, how much would be purchased if the price of lights were $16 per metre. (Need help? Read chapter 10.3 of the textbook, here: https://playconomics.com/textbooks/view/playconomics4-201913/part3/ch10/s3) 5 metres 10 metres 15 metres 20 metres None of these.

Identify the initial equilibrium price and quantity of the drug per day. Suppose the government imposes a price control at $1.50 a dose. How many doses are purchased after the price control is imposed?

O Macmillan Learning Specialized electronic batteries, such as those for laptops, are hard to dispose of safely, yielding excess pollution when one gets thrown away. Suppose that producing these batteries creates a social cost of approximately $150 per battery. Please shift the appropriate curve or curves to reflect this social cost. The new price is about $ The new quantity is Ithousand. Price (S) 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 Supply Demand 0 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 Quantity of Laptops (thousands)

Do you think that electronic cigarettes should be taxed and regulated like conventional cigarettes? Explain.

Assume you have your car broken down just before the weekend. You value your weekend trip as muchas v and if you have to stay home you get the zero utility. There are two dealerships in your town. Atthe beginning of the day they simultaneously choose a price for repair. Dealers know that when you cometo one of them and observe the price, you can always call to another dealer to make an inquiry about hisprice. The call is costless. The other dealer, however, can be occupied for this day. Assume, this happenswith probability   which is a common knowledge (but the dealers do not know whether the other dealer isoccupied or not). Assume zero repair cost for the dealer and find a symmetric equilibrium of the game.