An example of public good is ?
An example of public good is ? A. a beautifully landscaped lawn.B. preservation of wetlands C. a public utility. D. a book
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An example of public good is ? A. a beautifully landscaped lawn.B. preservation of wetlands C. a public utility. D. a book
Private goods are ? A. non-rival in consumption and their benefits are nonexcludable:B. rival in consumption and their benefits are excludable C. rival in consumption and their benefits are non-excludable D. non-rival in consumption and their benefits excludable
The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ? A. households do not have perfect information B. firms are not price takers in input markets C. firms are not price takers in the output marketD. all of the above
The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ? A. industry equilibrium analysis B. specific equilibrium analysisC. partial equilibrium analysis D. general equilibrium analysis
When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ? A. less than the efficient level of output B. more than the efficient level of output C. so…
The total cost to society of producing an additional unit of a good or service is the ? A. marginal damage costB. marginal social cost C. marginal private cost D. marginal external cost
If PX > MCX, society gains by ? A. raising the price of X. B. production less XC. Producing more X D. Increasing the cost of producing X