Parents who do not have their children immunized and attempt to benefit from other parents who did have their own children immunized are exhibiting an economic behavior known as
A) excludability. B) public rivalry.
C) internalizing an external cost. D) free riding.
D
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After firm A producing one good acquired another firm B producing another good, it lowered the prices for the bundle of goods. One can conclude that the goods were
a. substitutes b. complements c. not related d. None of the above
In Econland, 500,000 of the 2 million people in the country are employed. Average labor productivity in Econland is $15,000 per worker. Real GDP per person in Econland totals:
A. $11,250. B. $3,750. C. $1,250. D. $60,000.
What type of relationship does the law of demand demonstrate?
A. inverse B. direct C. dynamic D. equilibrium
Compared to a monopolist, the demand curve for a perfectly competitive firm will be
A) as elastic. B) more elastic. C) less elastic. D) perfectly elastic.