National defense is provided by the government because
a. it is impossible for private markets to produce public goods.
b. products provided by the government are produced more efficiently.
c. free-riders make it difficult for private markets to supply the socially optimal quantity.
d. public goods increase government revenues.
c
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In order to survive in political office, politicians must be steadfast in their convictions and be unwilling to change their political platforms
a. True b. False
Economic profits at the short-run break-even point are
A) positive. B) negative. C) equal to zero. D) indeterminate since they also depend on the size of the fixed costs.
A positively sloped long-run average total cost curve means there are economies of scale
Indicate whether the statement is true or false
In North Carolina, a car must pass an emissions test before it can be registered. The emissions test costs $20 per car. This system is an example of
a. direct controls on pollution. b. a per-unit emissions tax. c. a "license to pollute." d. subsidies for nonpollution.