Federal government receipts minus expenditures is the federal surplus or deficit.
Answer the following statement true (T) or false (F)
True
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If the cross elasticity of demand between two goods is -0.56, then a fall in the price of one good leads to a ________ shift in the ________ of the other good
A) rightward; demand B) rightward; supply C) leftward; demand D) leftward; supply
In the above figure, if the natural monopoly is regulated with an average cost pricing rule and the firm does not inflate its costs, then consumer surplus will be
A) $192 million. B) $108 million. C) $216 million. D) $60 million.
Using the information in the table shown, the marginal revenue of the 6th unit is:
This table represents the revenues faced by a monopolist.
A. $0
B. $200
C. $3,000.
D. $500.
The free-rider problem is triggered by being:
A. excludable and rival in consumption. B. excludable and nonrival in consumption. C. nonexcludable. D. rival in consumption.