A. The social marginal costs are higher than the private marginals costs
B. A product is not provided in the free market
C. The social marginal cost equal the social marginal benefit
D. The social marginal benefits are higher than the private marginal benefits
Month: May 2019
A. Judicial economic statement
B. Positive economic statement
C. Formative economic statement
D. Normative economic statement
A. increase equilibrium price and quantity
B. Decrease equilibrium price and quantity
C. Increase equilibrium price and decrease quantity
D. Decrease equilibrium price and increase quantity
A. The price elasticity of supply is + 3
B. The price elasticity of supply is + 0.2
C. The price elasticity of supply is + 2
D. The price elasticity of supply is infinity
A. Signal
B. Incentive
C. Rationing device
D. Indicator of income
A. Act as a signal
B. Act as a incentive
C. Act as a rationing device
D. shift the demand curve
A. Shifts the supply curve
B. shifts the demand curve
C. Leads to a contractions in supply
D. Leads to an extension of supply
A. Excess supply
B. Excess demand
C. Equilibrium
D. Downward pressure on prices
A. income elastic
B. income inelastic
C. Price elastic
D. Price inelastic
A. Lead to a movement along the demand curve
B. Shift the supply curve
C. Shift the demand curve
D. Lead to an extension of demand
