When a good is excludable,
a. one person's use of the good diminishes another person's ability to use it.
b. people can be prevented from using the good.
c. no more than one person can use the good at the same time.
d. everyone will be excluded from using the good.
b
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An investment option is profitable if:
A) its net present value is zero. B) its net present value is positive. C) its net present value is negative. D) its present value is negative
Which of the following is NOT an assumption of perfect competition?
A) many firms B) many buyers C) restrictions on entry into the market D) each firm sells an identical product
Which of the following U.S. antitrust laws prohibits mergers through the acquisition of a firm's assets if the merger would lessen competition?
a. the Sherman Antitrust Act b. the Clayton Act c. the Robinson-Patman Act d. the Celler-Kefauver Anti-Merger Act e. the Federal Trade Commission Act
Variable inputs are defined as any resource that:
a. varies with the size of the firm's plant. b. cannot be changed as output changes. c. can be changed as output changes. d. can be increased or decreased hourly.