Price(dollarsper ride) Quantity demanded(rides per day) Quantitysupplied(rides per day) 2 100 40 4 90 50 6 80 60 8 70 70 10 60 80 12 50 90 The table gives the demand and supply schedules for boat rides. If the supply of boat rides increases by 20 rides a day, the price will ________.

Resource use is allocatively efficient when

When the demand for a good is inelastic and its price increases, the total revenue from the sale of the good will ________.

The statement “The unemployment rate for teens is higher than that for adults” is

If the price is above the equilibrium price, then there is a

Because we face scarcity, every choice involves

Consumers expect that the price of a gallon of gasoline will rise next week. As a result

The production possibilities frontier is the boundary between those combination of goods and services that can be

In the figure above, the opportunity cost of moving from point C to point D is

When the price is less than the equilibrium price