Bobby's neighbor is growing a tree that is blocking Bobby's ocean view. Bobby is considering taking his neighbor to court. To Bobby, the tree represents a(n)
a. unclear property right
b. public good
c. free-rider good
d. positive externality
e. negative externality
E
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Refer to the table above. If the price of one chocolate is $2, the marginal benefit per dollar spent on the fourth unit will equal:
A) $4. B) $2. C) $2.5. D) $5.
In the above figure for a monopolistically competitive firm, the total cost at the profit-maximizing point is
A) $480. B) $400. C) $540. D) $880.
Which of these does not hold true if an economy is simultaneously in long-run and short-run equilibrium? a. The actual price level equals the expected price level
b. Aggregate quantity supplied equals potential output. c. Aggregate quantity demanded equals potential output. d. Aggregate quantity supplied equals aggregate quantity demanded. e. Aggregate demand curve is horizontal at the potential output level.
A share of common stock represents a(n):
A. claim from a lender against a borrower. B. share of ownership of the company. C. unlimited liability to the owner of the stock. D. share in the company's debts.