Public goods are
a. exclusive and rival goods
b. exclusive and nonrival goods
c. nonexclusive and nonrival goods
d. nonexclusive and rival goods
e. the same as merit goods
C
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Suppose the Herfindahl-Hirschman Index (HHI) in the market for chocolate is 3,200. Two companies want to merge. The FTC definitely will challenge the merger if it increases the HHI by more than
A) 150 points. B) 100 points. C) 40 points. D) 200 points.
The above figure represents the market for professional minor-league baseball umpires
a) If umpires are offered $90 a game, what is the quantity of umpires supplied? b) If umpires are offered $90 a game, is there a surplus or shortage of games umpired? What does the shortage or surplus equal? c) What is the equilibrium wage rate and quantity of umpires?
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. In this market there will be an excess demand of 1,000 cheeseburgers at a price of
A. $5. B. $6. C. $8. D. $9.
Which of the following would increase public saving?
A) an increase in transfers B) an increase in government purchases C) an increase in taxes D) All of the above would increase public saving.