Along a linear demand curve, as price falls,

Suppose demand is given by Qd = 500 – 15P and supply is given by Qs = 5P.  If the government imposes a $15 price ceiling, the excess demand will be

All else equal, an increase in the price of bicycle helmets, would tend to

If the government would like to induce a consumer to consume a specific level of some good

Which of the following statements best explains the concept of diminishing marginal utility?

Suppose that we illustrate demand and supply with quantity on the horizontal axis and price on the vertical axis. Which of the following statements is false?

Which of the following statements about positive analysis is correct?

Consider the utility function U = min (5x, 7y).  The indifference curves for this utility function will be

An agent consumes goods x and y, with prices Px = $5 per unit and Py = $8 per unit.  The consumer’s income is I = $48.  The government imposes a tax of $1 per unit on good x.  What is the new equation for the budget constraint?

  Suppose the price of A is $20 per unit, the price of B is $10 per unit, and the consumer’s income is $1000 per month.  Which of the following baskets is not on the consumer’s budget line?