Market failures include all of the following EXCEPT
A) buyers pay for all the costs involved in the production of goods and services.
B) public goods.
C) positive externalities.
D) negative externalities.
Answer: A
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The figure above shows the cost, marginal revenue, and demand curves of Golden Chow, a producer of dog food. The market for dog food is monopolistic competition. In the short run, Golden Chow sells 400 cans of dog food per day and makes ________
Other firms have ________ incentive to enter the industry. A) an economic profit of $200 a day; an B) an economic profit of $400 a day; an C) a normal profit of $200 a day; no D) an economic profit of $400 a day; no
A Swiss consumer wants to buy an American car. The exchange rate is 1USD=0.89CHF (Swiss Francs). The car costs $10,000 . How much would the car cost him in Swiss Francs?
a. 12,000 Francs b. 11,600Francs c. 8,900 Francs d. 7,500 Francs
The beneficiaries of the minimum wage are confined to those in poverty
a. True b. False
In 2009, the average unemployment rate in the United States averaged
A. 4.6 percent. B. 5.4 percent. C. 7.2 percent. D. 9.3 percent.