For a monopoly producing any output level greater than one, the average revenue curve:
A. is the same as the demand curve.
B. lies about the demand curve.
C. lies below the demand curve.
D. can be negative.
A. is the same as the demand curve.
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Which of the following is an example of a common pool resource?
A) a lighthouse B) burritos C) a high school football game D) redwood forests
Suppose a university refunds students 75% of their tuition if they drop out before the third week of class, 50% if they drop out between their third and fifth week, 25% if they drop out between their sixth and eighth week, and 0% after the eighth
week. Flint paid $1,000 tuition, and is in his fourth week of class. What's his sunk cost? A) $0 B) $250 C) $500 D) $750 E) $1,000
What is deadweight loss and under what conditions does it occur?
What will be an ideal response?
Which of the following characteristics does a public good have?
a. Nonexcludable and rival b. Excludable and rival c. Non-excludable and nonrivalrous d. Excludable and nonrivalrous