A candy bar is an example of a good that is
a. both rival and excludable
b. non-rival but excludable
c. both non-rival and non-excludable
d. rival but non-excludable
e. rival but usually produced inefficiently
A
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A competitive equilibrium fails to be a Pareto Optimum with a distorting tax because
A) the consumer's budget constraint has an additional kink. B) the firm is no longer maximizing profits. C) the government wastes its revenue. D) the consumer faces a different effective wage than the firm.
Other Significant Entities Contributing to Federal Reserve Functions
What will be an ideal response?
In monopoly, _____
a. the firm's demand curve is the market demand curve for the product b. the marginal revenue is less than the price c. the firm can set its price anywhere but will enhance its profits by raising or lowering the price, depending on the circumstances d. all of these
How much is the MPC?
