Which of the following is the best example of a common property?
a. The car of a student who is frequently willing to give her friends rides around town.
b. The air that you breathe.
c. Bread that you bake and share.
d. Disney World
b. The air that you breathe.
You might also like to view...
James used $250,00 . from his savings account that paid an annual interest of 15% to purchase a hardware store. After one year, James sold the business for 320,000 . His accountant calculated his profit to be:
a. $320,000 b. $70,000 c. $282,500 d. $32,500
When new firms enter a monopolistically competitive industry: a. the average total cost curves of established firms will shift downward
b. the demand curve of an established firm is reduced at each level of output. c. the established firms will each increase production. d. the average revenue received by an established firm will increase at each level of output.
In the aftermath of the human devastation and misery of the Great Depression, many people—including many economists—became more aware of
a. the need for independence in the market-oriented economic system. b. the need to replace the market-oriented economic system. c. vulnerabilities within the market-oriented economic system. d. the strengths of the market-oriented economic system.
In order for a Pareto improvement to occur, someone must suffer a loss so that others may benefit from the improvement
a. True b. False