If the Marginal Cost of Producing Vanity License Plates Is

question 118

Multiple Choice

If the marginal cost of producing vanity license plates is virtually zero (by prison inmates with little else to do) , then states would maximize their profits on plate sales at the point on a linear demand curve where

• A)demand is inelastic.
• B)demand is elastic.
• C)demand is unit elastic.
• D)the demand curve crosses the horizontal axis.

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Definitions:

Crime

An act or the commission of an act that is forbidden or the omission of a duty that is commanded by a public law and that makes the offender liable to punishment by that law.

Reference Group

A social group that an individual uses as a standard for self-assessment, influencing attitudes, behaviors, and identities.

Secondary Group

A large, impersonal social group whose members pursue a specific goal or activity.

Sociology Class

An academic course that studies society, social relationships, and social institutions, exploring topics like culture, socialization, groups, and social stratification.