A modern example of privatizing a common resource is:
A. patents.
B. quotas.
C. taxes.
D. subsidies.
A. patents.
You might also like to view...
If a higher price for wheat decreases the quantity of corn being produced, which of the following describes what has occurred?
A) The supply of wheat increased and the supply of corn decreased. B) The quantity of wheat supplied increased and quantity of corn supplied decreased. C) The supply of wheat increased and the quantity of corn supplied decreased D) The quantity of wheat supplied increased and the supply of corn decreased. E) The supply of wheat decreased and the supply of corn decreased.
Interest deductibility does not provide an incentive for debt finance.
A. True B. False C. Uncertain
Antitrust risks from vertical integration are usually ______than those from horizontal integration
a. Higher b. Lower c. About the same as d. None of the above
Suppose a firm has a Cobb-Douglas weekly production function Q = F(L, K) = 25L0.5K0.5, where L is the number of workers and K is units of capital. The wage rate is $900 per week, and a unit of capital costs $400 per week. Assuming no fixed costs, what is the firm's total cost of production if it uses least-cost input combination to produce 675 units of output?
A. $48,600 B. $43,650 C. $35,100 D. $32,400