In cases where a common resource is shared by many and technology is well developed,
A. the resource becomes excludable.
B. the resource becomes nonrival in consumption.
C. overuse is rarely problematic.
D. overuse is more likely.
Answer: D
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The institutions that bring together savers, borrowers, investors, and insurers in a set of interconnected markets where people trade financial products is called the:
A. financial system. B. money system. C. market for interest rates. D. market for loanable funds.
The time period during which a firm's capital is fixed but its labor is variable is called
A) the planning horizon. B) the short run. C) the long run. D) the very long run.
Which form of price regulation increases consumer well-being and allows the firm to stay in business?
A. Allow the firm to set its own rate of return. B. Set prices equal to marginal cost. C. Set prices equal to average cost. D. Set lower prices when efficiency improves.
According to the figure above, which of the following events will increase the quantity demanded of bottled water?
A) a fall in the price of soda B) a rise in the price of a fitness club membership C) an increase in the number of buyers of bottled water D) a fall in the price of bottled water E) a rise in the price of bottled water