During the last decade, the price of shoes rose substantially yet people bought more pairs of new shoes each year. This experience suggests that the

Marginal private benefit (dollars) Quantity (thousands of student-years) 24,000 0 20,000 20 16,000 40 12,000 60 8,000 80 4,000 100 0 120 The table above provides information about the marginal private benefit for education. The marginal cost of educating a student is $16,000 per year and is constant. There is an external benefit from education that is equal to $12,000 per student year and is constant. If the government subsidizes education, how much should the subsidy be in order to attain the efficient level of enrollment?

Increasing opportunity cost implies that

Rooms rented monthly Price(dollars per room) Total cost(dollars)  0 201 100 1 191 200 2 181 290 3 171 370 4 161 440 5 151 520 6 141 610 7 131 710 8 121 820 9 111 940 10 101 1090 11 91 1290 The table above shows the demand and total cost schedule for a monopolist hotel. What price should the monopolist charge if it is a single-price monopoly?

f1q6g1.jpg In the above figure, the total producer surplus at the efficient level of output is ________.

Technological progress makes the production possibilities frontier

Choose THREE of the following terms and explain what they are and their significance to American History (worth 10pts apiece). Be sure to situate them within their context! (Note: If you answer more than three, I will only grade the first three. There will be no “best of” opportunity.) Free Silver Jingoism Boxer Rebellion Nineteenth Amendment The Square Deal The Birth of a Nation (1915) RMS Lusitania  Trench Warfare Henry Cabot Lodge Red Scare

If consumers but not producers expect that the price of soda will rise in November, the

With a subsidy paid to sellers, the supply curve shifts ________ and output ________.

f1q18g1.jpg Of the $3 per pizza tax illustrated in the above figure,