An example of a public good is:
A. national defense.
B. a hamburger.
C. a laundromat.
D. a personal computer.
Answer: A
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The flawed character cause of poverty refers to individual defects in aspiration or ability
Indicate whether the statement is true or false
Credible promises and hostage mechanisms can support a continuous stream of cooperative exchanges except when
a. the promisor is better off fulfilling than ignoring his promise b. neither party has a prior dominant strategy c. the hostage can be revoked for just causes d. the hostage is more valuable than any given exchange e. the hostage is difficult to replace
"Born global" firms are those that step straight onto the world stage, making exporting the primary goal of the firm from day one of operations.
a. true b. false
If a monopolistic competitor is producing an output for which marginal revenue is $40 and marginal cost is $32 to maximize profits the firm should
A. decrease the level of output. B. keep the level of output constant. C. continue to make $8 per unit. D. increase the level of output.