If a public good never becomes congested _____
a. the optimal number of users is infinite
b. it is evidence that it has been under produced
c. marginal costs are equal to average costs across the entire range of output
d. the marginal reduction in cost per user curve is flat
a
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Which of the following companies was part of the original Dow Jones Industrial Average?
A. Chicago Gas Company B. National Lead Company C. General Motors Corp. D. AT&T Inc. E. a and b
When the economy experiences inflation, people demand a:
A. higher quantity of money, shifting the money demand curve leftward. B. lower quantity of money, shifting the money demand curve rightward. C. higher quantity of money, shifting the money demand curve rightward. D. lower quantity of money, shifting the money demand curve leftward.
An elastic response in the quantity of a good demanded would be caused by
A) the availability of many substitutes. B) a lack of substitutes. C) a lack of sensitivity to the good's price. D) the good representing a small portion of a person's budget.
An entrepreneur is
A) the rate of return on capital. B) a legal form of business. C) one who takes risks and makes innovations in organizing a firm. D) the rate of discount.