The market demand curve for a pure public good shows the total value that all individuals place on each unit of the good.
Answer the following statement true (T) or false (F)
True
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Overt collusion is relatively rare because: a. they are illegal in some countries, including the United States. b. members find it difficult to agree on key decisions
c. members frequently have an incentive to cheat on the cartel. d. of all the above reasons.
In an enforceable contract one or both parties could invest too little in relationship-specific assets that increase the economic value their joint efforts can create
Indicate whether the statement is true or false
Small Business
What will be an ideal response?
Suppose Jeremy's marginal utility from attending his 10th San Antonio Spurs game was 50 and the marginal utility from attending his 1st Rihanna concert was 70. Assume that the price of a Spurs ticket is $30 and the price of a Rihanna ticket is $100. Which of the following would be TRUE?
A. Jeremy would not alter his behavior. B. Jeremy would attend more Spurs games and less Rihanna concerts. C. Jeremy would attend more Rihanna concerts and less Spurs games. D. Jeremy would attend less of both Spurs games and Rihanna concerts.