Question 1

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed on sellers of digital cameras, how many cameras are sold?

Accepted Answer

A)  150 thousand 
B)  200 thousand 
C)  250 thousand 
D)  300 thousand 
A)  150 thousand 
B)  200 thousand 
C)  250 thousand 
D)  300 thousand

Question 2

-The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $700, the marginal benefit from renting an apartment unit is ________ and the quantity of apartment units supplied is ________.

Accepted Answer

A)  $700; 600 
B)  $850; 600 
C)  $800; 800 
D)  $700; 800 
A)  $700; 600 
B)  $850; 600 
C)  $800; 800 
D)  $700; 800

Question 3

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the marginal cost of the last digital camera produced is ________ and the marginal benefit that consumers receive from it is ________.

Accepted Answer

A)  $330; $300 
B)  $310; $280 
C)  $280; $310 
D)  $300; $300 
A)  $330; $300 
B)  $310; $280 
C)  $280; $310 
D)  $300; $300

Question 4

-________ occurs when a foreign firm sells its exports at a lower price than its cost of production.

Accepted Answer

A)  A quota 
B)  Dumping 
C)  A tariff 
D)  A nontariff barrier 
A)  A quota 
B)  Dumping 
C)  A tariff 
D)  A nontariff barrier

Question 5

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the equilibrium quantity of digital cameras is ________ thousand cameras and the efficient quantity of digital cameras to produce is ________ thousand cameras.

Accepted Answer

A)  300; 200 
B)  200; 300 
C)  200; 200 
D)  300; 300 
A)  300; 200 
B)  200; 300 
C)  200; 200 
D)  300; 300

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed on sellers of digital cameras, how many cameras are sold?

-The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $700, the marginal benefit from renting an apartment unit is and the quantity of apartment units supplied is .

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the marginal cost of the last digital camera produced is and the marginal benefit that consumers receive from it is .

-________ occurs when a foreign firm sells its exports at a lower price than its cost of production.

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the equilibrium quantity of digital cameras is thousand cameras and the efficient quantity of digital cameras to produce is thousand cameras.

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Public Choices and Public Goods

Externalities and the Environment

Markets for Factors of Production

Economic Inequality

Uncertainty and Information

Extension A: Review

Extension C: Review

Extension D: Review

Extension E: Review

Extension F: Review

Filters

Exam 22: Extension B: Review

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed on sellers of digital cameras, how many cameras are sold?

-The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $700, the marginal benefit from renting an apartment unit is ________ and the quantity of apartment units supplied is ________.

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the marginal cost of the last digital camera produced is ________ and the marginal benefit that consumers receive from it is ________.

-________ occurs when a foreign firm sells its exports at a lower price than its cost of production.

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the equilibrium quantity of digital cameras is ________ thousand cameras and the efficient quantity of digital cameras to produce is ________ thousand cameras.

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Public Choices and Public Goods

Externalities and the Environment

Markets for Factors of Production

Economic Inequality

Uncertainty and Information

Extension A: Review

Extension C: Review

Extension D: Review

Extension E: Review

Extension F: Review

Filters

-The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $700, the marginal benefit from renting an apartment unit is and the quantity of apartment units supplied is .

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the marginal cost of the last digital camera produced is and the marginal benefit that consumers receive from it is .

-The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the equilibrium quantity of digital cameras is thousand cameras and the efficient quantity of digital cameras to produce is thousand cameras.