A good that is rival but nonexcludable is a ________
Fill in the blank(s) with correct word
common pool resource
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
It costs firm A $800 to produce five radios and it costs firm B $500 to produce five batteries. If Firm A merges with firm B, it can produce both the five radios and the five batteries for $1000 . The firm has experienced
a. Economies of Scale b. Economies of Scope c. Diseconomies of Scale d. Diseconomies of Scope
Suppose a man and a woman are in love and care for the other's happiness as well as their own consumption. Suppose the woman is more selfish than the woman UM = CM1/2 UW1/2 UW = CW2/3 UM1/3 They will maximize the joint happiness (UM + UW) where
a. CM = 100; CW = 0 b. CW = 100; CM = 100 c. 50 < CM < 100; 0 < CW < 50 d. 50 < CW < 100; 0 < CM < 50
Suppose that you purchase a Korean government bond and the number of won needed to purchase one dollar increases. Your return on the bond:
A. decreases by more than the amount of the dollar's appreciation. B. decreases by the amount of the dollar's appreciation. C. increases by the amount of the dollar's appreciation. D. decreases by less than the amount of the dollar's appreciation.