At the local park there is a playground that anyone may use. There is rarely anyone using the playground, so children who use the playground receive full enjoyment from its use. The playground is
a. rival in consumption and is excludable.
b. not rival in consumption, but is excludable.
c. rival in consumption, but is not excludable.
d. not rival in consumption nor is it excludable.
d
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How does a contractionary monetary policy affect the labor demand curve in an economy?
What will be an ideal response?
The long run outcome of the monopolistically competitive firm:
A. occurs where price equals marginal cost. B. maximizes total surplus. C. creates welfare loss. D. does not maximize profits.
A health club sells 50 memberships when the monthly price is $60 and 70 memberships when the monthly price is $40 . Using the method of average values, the price elasticity of demand for memberships at this health club is
a. 6.00 b. 0.10 c. 1.00 d. 0.25 e. 0.83
How do people maximize net gains from the decisions they make?
a. by choosing to participate only in activities with increasing marginal benefits b. by choosing to participate only in activities without costs c. by pursuing an activity until marginal cost equals marginal benefit d. by including sunk costs as a relevant cost in all decisions