A benefit that accrues without compensation to someone other than the person who caused it is called:
A. an external benefit.
B. a network benefit.
C. a social benefit.
D. a private benefit.
A. an external benefit.
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____ experience lower rates of unemployment than do ____
a. Teenagers; adults b. Adult males; adult females c. Skilled workers; unskilled workers d. Black females; white females
Suppose the current exchange rate is $1.60 per pound. A sweater purchased by an American in London costing 50 pounds would cost
a. $31.25 b. $80.00 c. $51.60 d. $48.40 e. $100.00
Economists are strongly united in their belief that the stock market is
A. risk neutral. B. an unfair gamble. C. efficient. D. inefficient.
Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__1420829190927__f1q532g1.jpg" alt="" style="vertical-align: 0.0px;" height="96" width="382" />Because all residents of Miniville shop at the store located closest to their homes, the optimal location for the first store to open in Miniville is:
A. at the western end of Lake Shore Drive.
B. Point A.
C. Point C.
D. there is no single optimal location for the first store.