Which of the following is a private owner prohibited from doing?
a. selling the property to another person
b. erecting a fence designed to keep others from using the property
c. painting the property a color that others do not like
d. using the property in a manner that invades or infringes on the property of another
D
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Refer to Scenario 12.1. What is the probability of both Simon and Paula trying to rescue the man?
A) 9% B) 21% C) 49% D) 70%
A company needs to know the price of each resource it employs if it wants to determine whether or not it is achieving
A) technological efficiency. B) economic efficiency. C) accounting efficiency. D) managerial efficiency.
Why is the study of asymmetric information associated with the market for "lemons"?
A) Potential buyers of used cars have difficulty separating good used cars from bad used cars; bad used cars are often referred to as "lemons." B) Because there is little advertising in the market for lemons, buyers have difficulty determining the quality of lemons before they are purchased. C) Sellers of citrus fruit — lemons, oranges, grapefruit — know the difference between bad fruit and good fruit; buyers do not have this information. D) Most sellers of used cars have less information about their cars than the dealers who buy them; used cars are often referred to as "lemons."
Which of the following is not a way we sometimes confuse correlation and causation?
A. Correlation without causation B. Omitted variables C. Reverse causality D. Non-linear relationships