An excludable good is a good that a producer can prevent people from consuming
Indicate whether the statement is true or false
TRUE
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Which of the following results in a movement upward along the supply curve for movies in theaters?
A) an increase in the price of movie tickets B) a decrease in the price of movie tickets C) a decrease in the price of downloaded movies D) a decrease in movie star salaries E) an increase in the number of theaters
Critics of the World Bank's analysis of East Asian industrial policies argue that
A) even though growth was faster in the non-targeted industries than it was in the targeted ones, the policies were essential to overall economic growth. B) growth was faster in nearly every targeted industries than it was in the non-targeted ones. C) even though growth was the same in the targeted industries as it was in the non-targeted ones, they would have grown slower without the policies. D) growth was slower in the targeted industries; hence the policies did not work. E) measurements of economic growth are invalid and cannot be used to make comparisons between industries.
The above figure shows the market for a given product. Defining welfare as consumer surplus plus producer surplus, calculate the social welfare associated with perfect competition, single-price monopoly, and a perfect-price-discriminating monopoly
Which market structure(s) maximize social welfare?
Monopsonists tend to exploit the resources as they are the sole employers of the resources
a. True b. False Indicate whether the statement is true or false