A public good is described, in part, as a good
A. that may be depleted if demand is heavy.
B. that has a marginal cost at or near zero.
C. that is essential to life.
D. which has all of these characteristics.
Answer: B
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A price increase will always increase a firm’s revenue.
Answer the following statement true (T) or false (F)
Pollutants are not harmful if they are degradable in water
Indicate whether the statement is true or false
The introduction of the power loom during the Industrial Revolution caused:
A. economic growth. B. the long-run aggregate supply curve to shift to the right. C. an increase in the potential output of the economy. D. All of these are true.
To be considered employed, a person must have a full-time job
a. True b. False Indicate whether the statement is true or false