A television signal sent by cable is ________ in consumption, and viewers are ________.
A. nonrival; nonexcludable
B. rival; nonexcludable
C. nonrival; excludable
D. rival; excludable
Answer: D
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If the price is greater than the marginal cost of producing a good, the seller has
A) no benefit from the sale. B) a loss. C) some producer surplus from the sale. D) some negative consumer surplus from the sale. E) None of the above answers is correct.
In the above table, which tax plan is progressive?
A) only plan A B) only plan B C) only plan C D) both plan B and plan C
For the firm's cost minimization problem, one of the key assumptions for each input is that:
A) marginal product is constant. B) marginal product is increasing at a decreasing rate. C) marginal product is increasing at an increasing rate. D) marginal product is decreasing at an increasing rate.
If the government pays a per-unit subsidy to the producer of a service, we would expect to see a(n) I. increase in the quantity demanded. II. decrease in the out-of-pocket price paid by consumers. III
increase in the quantity supplied by producers. A) I only B) both I and II only C) both II and III only D) I, II, and III