Which of the following would result in an increase in both the equilibrium price and quantity for a normal good?
The government sets a price floor above the current market price
Price of a substitute good decreases
Price of a complementary good decreases
A new subsidy for production of the good comes into effect
Which of the following examples of external costs/benefits might lead to a monopoly?
Bees raised for their honey help to pollinate surrounding crops
A person getting on the freeway at rush hour increases delay for all drivers behind them
An individual who buys a particular software package increases the usefulness of that software for all other existing users
Keeping your house and yard clean and maintained increases home values for those around you