Economics

Google L Files Bookstore D Question 33 3.75 pts Mediasite Catalog es New Analytics According to our text, imposing tariffs and quotas using the infant industry argument: ups O is valid and strong, because beginning industries need help and protection getting off alendar the ground. Eh is valid and strong, because third-world countries who use this argument, need Inbox protectionism against stronger nations who have well-developed industries. O is a good argument for third-world countries, because most of their governments are poor and corrupt, and they need all the help they can get. History O is not a good idea, because after several years of tariffs and quotas it becomes difficult to eliminate the tariffs. An industry, which is not required to fully compete with foreign Studio countries will most likely not become very competitive. Nextavailable un kstore D Question 35 3.75 pts diasite Catalog ew Analytics In the market for laptops, the following changes take place: 1. technology to make laptops improves. This makes it cheaper for manufacturers to produce laptops. 2. more schools make it mandatory for their students to use laptops. What will happen to the short-run equilibrium price and quantity of laptops based on the above two changes? O the equilibrium price of laptops decreases, and the equilibrium quantity increases. O All of the listed answers are incorrect. O the equilibrium price change of laptops is indeterminate, and the equilibrium quantity increases. O the equilibrium price of laptops increases, and the equilibrium quantity is indeterminate. O the equilibrium price of laptops increases, and the equilibrium quantity decreases. Next PreviousD Question 32 3.75 pts Catalog tics A theater notices that when it charges $8 per ticket, its revenue equals $3,680. When it charges $12 per ticket, its revenue from ticket sales rises to $4,080. What is the price elasticity of demand for this theater's tickets using the above numbers? {Note: In this problem, the revenues are given, not the quantities. Use absolute value, average quantity and average price.} O 0.75 O 5.75 O 3.88 O 0.26 O 1.82 NextQuestion 40 3.75 pts Government regulation of firms: O always results in less competition. O always makes consumers better off. O is always intended to increase competition. O can both increase and decrease competition. PreviousD Question 37 3.75 pts Which of the following is true about income inequality? O After 10 years, the large majority of people in the lowest quintile moves up to a higher quintile. O Income inequality leads to social instability. O none of the listed answers is correct. O A system of income inequality discourages people to work hard and innovate. Next Previousore D Question 39 3.75 pts site Catalog Update Apple ID Settings Some account services will not be available until you sign in again. nalytics Suppose the following changes happen simultaneously: a. gasoline prices rise considerably; b. the technology to make hybrid cars advances considerably, making it cheaper to produce these cars. What happens to the equilibrium price and quantity of hybrid cars (these vehicles run partly on electricity and are very fuel-efficient)? O The change in the equilibrium price is indeterminate, and the equilibrium quantity increases. The equilibrium price increases, and the change in the equilibrium quantity is indeterminate. The equilibrium price decreases, and the equilibrium quantity decreases. The equilibrium price decreases, and the change in the equilibrium quantity is indeterminate. The equilibrium price increases, and the equilibrium quantity decreases. Next Previous