The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If there are no external benefits or external costs, the efficient number of DVDs to produce is ________ a week
A) 1
B) 3
C) 5
D) any number less than 3
B
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Based on the information above, video games have
a. A unit elastic demand curve b. A inelastic demand curve c. A elastic demand curve d. A perfectly elastic demand curve
Vertical relationships can increase profits through
a. preventing firms from evading regulation b. eliminating a double-markup problem c. making the incentives of manufacturers and retailers unaligned d. preventing price discrimination
The price of a good that prevails in a world market is called the
a. absolute price. b. relative price. c. comparative price. d. world price.
A country could effectively increase its productivity and per capita economic growth rate by ______.
a. promoting larger families b. investing in physical capital c. requiring children to work rather than attend school d. encouraging citizens to consumer their incomes