Public goods face the
A) principle of rival consumption.
B) free-rider problem.
C) law of overproduction.
D) exclusion principle.
B
You might also like to view...
Although tacit collusion can enhance the price-setting power of the participating firms, it can also result in greater efficiency in production, which also benefits society
Thus, it is not immediately clear, a priori, when tacit collusion actually hurts or helps consumers. Indicate whether the statement is true or false
The fact that a monopoly has to take the shapes of marginal cost AND marginal revenue into account when making decisions is reflected in the fact that
A) monopolies don't have a supply curve. B) monopolies don't have a demand curve. C) monopolies have the same supply curve as perfectly competitive firms. D) monopolies maximize profit.
One of the basic innovations of the first phase of the industrial revolution was (the)
A. automobile. B. computer. C. steam engine. D. wheel.
The principal econometric techniques used in measuring demand relationships are:
a. the standard deviation b. regression c. correlation analysis d. the coefficient of determination e. both b and c