In the Tragedy of the Commons parable, if the medieval townspeople had foreseen the tragedy, then they could have dealt with the problem in much the same way that modern society deals with
a. fire protection.
b. poverty.
c. pollution.
d. national defense.
c
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Suppose the price of water rose sharply. Other things constant, what is the least likely to occur?
A) People will consume less water. B) Fewer swimming pools will be filled with water. C) More high-pressure showerheads will be sold. D) The demand for water will fall.
Kathy and Amy paint pictures and do caricatures to sell to tourists. In one day, Kathy can either paint two pictures or do four caricatures. In one day, Amy can either paint three pictures or do three caricatures
For both Kathy and Amy, what is the opportunity cost of painting one picture? Who has the comparative advantage in painting pictures and who has the comparative advantage in doing caricatures? How might they be able to increase their total output?
A one-year discount bond has a face value of $1000 and a price of $925. What is the yield to maturity on the bond? Report using percentages with two decimal places
What will be an ideal response?
The equation Y = A is known as the ________
A) Cobb-Douglas production function B) labor supply curve C) marginal product of labor D) capital-to-employment function