To find the economy's marginal benefit curve for a public good, you would
A) average the individual marginal benefit curves horizontally.
B) average the individual marginal benefit curves vertically.
C) sum the individual marginal benefit curves horizontally.
D) sum the individual marginal benefit curves vertically.
D
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The figure above illustrates a linear demand curve. In the range from $8 to $6
A) the demand is price elastic. B) the demand is unit elastic. C) the demand is price inelastic. D) more information is needed to determine if the demand is price elastic, unit elastic, or inelastic.
People who end up in prison are particularly subject to ________
A) higher cyclical unemployment B) higher structural unemployment C) lower cyclical unemployment D) lower seasonal unemployment
A government-imposed restriction on the quantity of a specific good that may be imported to and sold in the United States is called a
A) tariff system. B) quota system. C) reverse-trade system. D) union trade system.
Entrepreneurs are unnecessary in a market economy, and their profit is unearned.
Answer the following statement true (T) or false (F)