The open access equilibrium is usually
a. Economically efficient but ecologically unsustainable Incorrect
b. Economically efficient and ecologically sustainable
c. Economically inefficient but ecologically sustainable
d. Neither economically efficient nor ecologically sustainable
e. Highly profitable for resource users
Ans: d. Neither economically efficient nor ecologically sustainable
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
In the figure above, the allocatively efficient output of computers is
A) 2 million per year. B) 3 million per year. C) 4 million per year. D) the largest amount possible.
Why do some firms practice price discrimination? Relate your answer to the common practice of public colleges charging lower tuition to in-state students and higher tuition to out-of-state students
What will be an ideal response?
Suppose you purchase a new home for $75,000, making a down payment of 20% and taking out a mortgage on the balance
What is the return on your investment in your home if one year later the price of the home increases by 5%? What if the price of the home decreases by 5%?