The graph below shows how the price of video games varies with the demand quantity. Suppose that consumers' incomes increased, such that more video games were demanded at each price level. After the increase in demand, the new equilibrium price is , where both supply and demand equal . $120, 200 video games $160, 300 video games $120, 300 video games

Suppose that a flower nursery benefits from having a butterfly farm located only a few miles away, because the presence of the insects greatly improves flower pollination. lawyers for the two companies meet to draft a legal document specifying the number of butterflies the farm promises to maintain in exchange for payments to be made by the nursery. which of the following types of private solutions to the externality of pollination has occurred in this case? charities moral codes and social sanctions integration of different types of businesses contracts it’s important to note that sometimes private solutions to externalities do not work. for example, this occurs when communications barriers or social customs are important enough relative to the potential gains involved that (a) the government must step in (b) the private solution is not feasible (c) the market system has a crisis

The united states economy is one in which producers are generally free to produce what they want and consumers are free to purchase what they desire, so long as no laws are broken. at the same time, however, the government does regulate some aspects of the economy. the u. s. can best be described as which of the following a mixed economy b liberated economy c command economy d market economy

Which region on the map would have been directly affected by the infestation of the boll weevil in the late-19th and early-20th centuries? a) 5 b) 4 eliminate c) 3 d) 2