Which of the following would be best classified as a private good?
A) a missile defense system
B) police force
C) radio frequency
D) clothing
Answer: D
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Accounting profit is usually larger than economic profit.
Answer the following statement true (T) or false (F)
The payoff matrix is a fundamental tool of
A. monopolistic competition. B. game theory. C. corporate finance theory. D. regulatory oversight.
The purpose of antitrust laws is to ______ concentrations of market power and ______ competition.
A.) increase; increase B.) decrease; decrease C.) increase; decrease D.) decrease; increase
In some industries, pollution rights are sold from one company that does not need them to another that does. In recent years, conservation groups have purchased pollution rights so they cannot be exercised. Companies in need of pollution rights will find that:
A. the prices of pollution rights have gone up. B. the supply of pollution rights has increased. C. the relative costs of pollution control equipment has gone up. D. the prices of pollution rights have fallen.