Common resource is another term for public good.
Answer the following statement true (T) or false (F)
False
You might also like to view...
When the government develops policies to stabilize the economy
A) only expansionary fiscal policy is impacted by the multiplier effect. B) only contractionary fiscal policy is impacted by the multiplier effect. C) these policies are unaffected by the multiplier effect. D) it needs to consider the multiplier effect for all fiscal policies.
The marginal rate of technical substitution is equal to:
A) the absolute value of the slope of an isoquant. B) the ratio of the marginal products of the inputs. C) the ratio of the prices of the inputs. D) all of the above E) A and B only
Learning by doing suggests that:
A. patents are more valuable. B. diminishing marginal productivity occurs more rapidly. C. greater experience increases efficiency. D. greater experience increases production costs.
You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 78 ? 15Q, where Q = Q1 + Q2. The marginal costs associated with producing in the two plants are MC1 = 3Q1 and MC2 = 2Q2. What price should be charged in order to maximize revenues?
A. $52 B. $39 C. $47 D. $56