Which of the following is NOT a characteristic of a private good?
a. rivalry in consumption
b. benefits of consumption are nonexcludable
c. consumption of the good precludes consumption by another individual
d. the benefits to a consumer of consuming the good are exclusive to that individual
b. benefits of consumption are nonexcludable
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The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. What is the marginal utility per dollar from magazines when the sixth magazine is purchased?
A) 36 units B) 15 units C) 9 units D) 5 units
What are the influences on the supply of U.S. dollars in the foreign exchange market?
What will be an ideal response?
Inefficient resource allocation is a major problem with monopolies.
Answer the following statement true (T) or false (F)
Many regulated industries are not pure monopolies
a. True b. False Indicate whether the statement is true or false