Which gives you greater total utility: 14 gallons of water per day or 22 gallons per day? Why?
Ans: 22 gallons of water per day gives greater total utility than 14 gallons per day. Higher consumption would give greater total utility.
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Which of the following is a barrier to entry for a monopoly?
A) a patent B) severe diseconomies of scale C) close substitutes for the good or service exist D) All of the above answers are correct.
Refer to Figure 10-6. The loanable funds market is given in the figure above. If the current real interest rate is 5 percent, which of the following is true?
A) The quantity of loanable funds being demanded in the market is less than $90 million. B) The loanable funds market is in equilibrium. C) There is a surplus of loanable funds in the market. D) There is a shortage of loanable funds in the market.
A key difference between human capital and technology is that ________
A) human capital is excludable B) human capital is nonrival C) scarce resources are used in the production of human capital D) technology is an input in the production of new technology
Firms that can reduce pollution easily would be willing to sell their pollution permits
a. True b. False Indicate whether the statement is true or false