The non-exclusion principle means
A) no one can be excluded from the benefits of a public good, even if the person does not pay for it.
B) no one can be excluded from the benefits of a private good, even if only one person pays for it.
C) no one who pays for a public good can be excluded from receiving the benefits of a public good.
D) people who do not pay for a public good can be excluded from receiving its benefits.
A
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The price elasticity of demand for Rosie's Roses fresh flowers the week of Valentine's Day is 1.10 and is 1.60 other days of the year. If Rosie's Roses faces a constant marginal cost of $0.75 per rose, what is the profit-maximizing off-peak load price to charge on days not on the week of Valentine's Day?
A) $2.00 B) $5.00 C) $8.50 D) $1.25
If James is willing to sell an extra concert ticket for $40 and actually sells it for $100, his consumer surplus is $60
a. True b. False Indicate whether the statement is true or false
One advantage of emissions permits is that they allow the government to choose the level of pollution reduction.
Answer the following statement true (T) or false (F)
Figure 6.5 illustrates the market for sugar. If sugar imports were banned, producer surplus in the market would be shown as area:
A. ABC. B. AEF. C. CBD. D. FEG.