If the average total cost and marginal cost are equal at a value of $30 and a quantity of 20,000, then the total cost increases with the production of one more unit
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The U.S. Federal government limits the ability for private firms to harvest timber on much government land. This, it is argued, increases the amount of fuel for wildfires which often burn out of control and cost money and manpower to control
A) This suggests that the policy addressing one positive externality might have created another positive externality. B) This suggests that those who harvest timber are prone to starting wildfires. C) This suggests that the policy addressing timber harvesting created a negative externality. D) This suggests that government policy is destined to fail.
Which of the following will cause the demand curve for a normal good to shift to the right?
a. a decrease in income b. an increase in the price of a complementary good c. a decrease in the price of the good d. an increase in the price of a substitute good e. an expectation of a future price decline
The economic system characterized by private ownership of resources and market is:
a. capitalism. b. communism. c. fascism. d. socialism.
For barter to occur, there has to be a double coincidence of wants
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