The coordination failure model is based on the possibility of increasing returns to scale
A) both at the aggregate level and at the level of the individual firm.
B) at the aggregate level, but not at the level of the individual firm.
C) at the level of the individual firm, but not at the aggregate level.
D) in future periods, but not in the current period.
B
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The above figures show the market for oranges. Which figure(s) shows the effect of a nation-wide consumer boycott of eating oranges?
A) Figure B B) Figure C C) Figures B and C D) Figures A and D
Which of the following is true?
a. Real federal spending per person was approximately 50 times higher in 1900 than 1800. b. Real federal spending per person was approximately 80 times higher in 2012 than 1916. c. Real federal spending per person grew slowly under the Reagan Administration during the 1980s, but it increased rapidly under the Clinton administration in the 1990s. d. In recent years, government expenditures at the state and local levels have been greater than government spending at the federal level.
Why is it not sufficient to just compare the marginal utility of two goods when maximizing utility?
Please provide the best answer for the statement.
The Interstate Commerce Commission (ICC) regulates railroads, barges and trucks. Suppose technical change lowers the costs of railroads. As a result, the ICC permits railroads to lower prices some but also alters the rates of barges and trucks so they get additional business. The ICC would be acting consistently with
A. the public interest theory of regulation. B. the share-the-gains, share-the-pains theory of regulation. C. the capture hypothesis of regulation. D. None of the theories presented in the text since economic regulation is specific to a single industry and not to agencies that cover more than one industry. That is the province of social regulation.