There is a technological advance in the production of digital watches. This will cause:

Which of the following is a property of a public good?

To finance medical care, the federal government raises the tax per pack paid by sellers of cigarettes. Other things being equal, the price of cigarettes rises because of a(n):

If a demand curve for a good were completely vertical, it would be considered:

The mirror image of the marginal cost curve is the

Price elasticities of supply are always:

To raise the most tax revenue, governments should tax which of the following goods?

When quantity supplied equals quantity demanded, there is:

If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the price of cigarettes will fall. This fall in prices can be attributed to a(n):

The principle of diminishing marginal utility says that: