Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below.
Suppose the town can purchase land for the park at a cost of $20 per acre. The optimal park size would be ________ acres.
A. 4
B. 8
C. 6
D. 2
Answer: A
Economics
You might also like to view...
In the United States, the poorest 20 percent of households receive about ________ percent of total income
A) 15 B) 20 C) 3 D) 49 E) 23
Economics
Adam Smith was an advocate of:
a. mercantilism. b. a nation maximizing its stock of gold. c. unrestricted or free trade. d. the visible hand of public interest.
Economics
What is a price floor?
Economics
People tend to hold less money as
A. credit availability rises. B. the average price level falls. C. incomes fall. D. All of the choices are correct.
Economics