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Survey of economics
Question: As legal scholars often say, although the First Amendment protects the right to free speech, spee...

Show transcribed image text As legal scholars often say, although the First Amendment protects the right to free speech, speech is not free: when you speak freely your speech may cause others to think you are an idiotic fool. This illustrates the economic principle of: Opportunity cost People respond to incentives Equilibrium Marginal Housing prices have been increasing, as has the quantity of housing. The most likely explanation is: Decreased cost of construction Increased income Increasing land prices Concerns over increasing gas prices You observe that the quantity of DVDs sold over the last 3 years has increased but that price has remained roughly constant. The best explanation for this is: The price of televisions has risen and the popularity of DVDs has increased. Manufacturing costs have risen and more consumers think DVDs are cool. DVD manufacturing costs have decreased and the popularity of DVDs has increased. Production technology has remained unchanged and the popularity of DVDs has increased.

As legal scholars often say, although the First Amendment protects the right to free speech, speech is not free: when you speak freely your speech may cause others to think you are an idiotic fool. This illustrates the economic principle of: Opportunity cost People respond to incentives Equilibrium Marginal Housing prices have been increasing, as has the quantity of housing. The most likely explanation is: Decreased cost of construction Increased income Increasing land prices Concerns over increasing gas prices You observe that the quantity of DVDs sold over the last 3 years has increased but that price has remained roughly constant. The best explanation for this is: The price of televisions has risen and the popularity of DVDs has increased. Manufacturing costs have risen and more consumers think DVDs are cool. DVD manufacturing costs have decreased and the popularity of DVDs has increased. Production technology has remained unchanged and the popularity of DVDs has increased.