If the marginal cost of the 100th unit is $3.25, the total cost of producing 100 units is $825, and the fixed cost is $500, 

If a chemical factory causes noxious fumes to be emitted in the neighborhood, a third party would be:

Variable inputs are defined as any resource that:

External benefits cause the market to:

Exhibit 5-6 Demand curve for concert tickets ​ In Exhibit 5-6, if promoters lower their ticket price from $30 to $20, then:

Price ceilings set below the equilibrium create:

If the price elasticity of demand for football tickets is estimated to be 4.5, then a 10 percent increase in football ticket prices would be expected to cause a:

In Exhibit 3-7, if price happened to currently be $75 in this market, a _______ would result, causing a(n) __________ in price.                 

If equilibrium is present in a market:

Collusive action among producers creates higher prices for consumers because it: