The distinction between public goods and private goods is based on:
A.) Government regulation.
B.) Who produces the goods.
C.) How much the goods cost.
D.) The link between payment and consumption.
D.) The link between payment and consumption.
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Briefly describe the Federal Reserve System, how it is governed, and its roles in the economy
What will be an ideal response?
A very large number of small sellers who sell identical products imply
A) the inability of one seller to influence price. B) a multitude of vastly different selling prices. C) a downward sloping demand curve for each seller's product. D) chaos in the market.
A monopolist maximizes profits by finding
A) the rate of output where marginal revenue equals marginal cost. B) the rate of output where price equals marginal cost. C) the price where price exceeds marginal revenue by that largest amount. D) the price where average revenue and marginal cost are equal.
At the start of the Civil War, the South adopted a trade policy that did not
a. discourage exports to England. b. ban sales of cotton to the North. c. eventually move England from neutrality in the Civil War. d. weaken the southern war effort.