"Player drafts" of professional athletes:
A. increase the competitiveness of the labor market for professional athletes.
B. reduce the profitability of professional sports franchises.
C. promote monopsony in the hire of professional athletes.
D. increase salaries of professional athletes.
Ans: C. promote monopsony in the hire of professional athletes.
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________ occurs when market participants observe returns on a security that are larger than what is justified by the characteristics of that security and take action to quickly eliminate the unexploited profit opportunity
A) Arbitrage B) Mediation C) Asset capitalization D) Market intercession
Pollution regulation by requiring firms to implement specific equipment or actions is known as ___________
a. Pigouvian or pollution taxes b. tradable pollution permits c. pollution standards d. technology-based regulations e. None of the above.
Which of the following happens when Q1 is produced?
a. Marginal benefits and marginal costs become equal.
b. Marginal costs become greater than marginal benefits.
c. Marginal benefits become greater than marginal costs.
d. Marginal costs become greater than market price.
A private good
A. Experiences free riders. B. Is provided most efficiently by the government. C. Is consumed by one person and excludes consumption by others. D. Results in market failure when provided in markets characterized by laissez faire.