According to the law of demand, if the price of movie rentals decreases, ceteris paribus,:
a. the demand for movie rentals would increase.
b. the quantity demanded of movie rentals would decrease.
c. the quantity demanded of movie rentals would increase.
d. the demand for movie rentals would decrease.
e. the quantity demanded of movie rentals would not change.
c
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The free rider problem is the main source of market failure in the provision of nonexcludable public goods.
Answer the following statement true (T) or false (F)
The country that shows the limits of providing income security
a. France b. Sweden c. Germany d. Italy e. Holland
The use of money for exchange and trade:
A. Increases the importance of barter B. Fosters more specialization in production C. Reduces consumer sovereignty D. Raises the need for a coincidence of wants
When a monopolist sells two units of output its total revenue is $600. When a monopolist sells three units of output its total revenue is $630. When the monopolist sells three units of output, the price per unit is
A. $210. B. $230. C. $300. D. $630.