People will continue to use a common property until the marginal cost of using it equals
a. zero.
b. the social marginal benefit from using it.
c. the admission fee that a competitive firm would charge for its use.
d. the value they receive, on average, from using it.
d. the value they receive, on average, from using it.
You might also like to view...
The income per capita in Genovia is 38,333 Genovian dollars. If 1 Genovian dollar is equal to 0.78 U.S. dollars, the income per capita in Genovia in U.S. dollars, is ________
A) $29,899.74 B) $30,000 C) $3,563 D) $49,144.87
Refer to Table 9-10
a. Which person has an absolute advantage in the production of pens? pencils? b. Which person has a comparative advantage in the production of pens? c. Which person has a comparative advantage in the production of pencils?
BOGOs, i.e., buy-one, get-one-free offers, are an example of third-degree price discrimination
Indicate whether the statement is true or false
The slope of a curve at any point is given by this formula:
A. The change in x coordinates between two points divided by the change in their y coordinates. B. The percentage change in x coordinates between two points divided by the percentage change in their y coordinates. C. The change in y coordinates between two points divided by the change in their x coordinates. D. The percentage change in y coordinates between two points divided by the percentage change in their x coordinates.