Which of the following is an example of a public good?
A) flood control
B) post office
C) health care
D) welfare
Answer: A
You might also like to view...
Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080If they are given 2 days to work how many scarves could Alexandra make if she spent the whole time knitting scarves?
A. 8 B. 12 C. 24 D. 16
Large quantities of many products produced in the United States are exported to purchasers in other countries. Exports account for the largest share of which one of the following products produced in the United States?
What will be an ideal response?
If the quantity demanded at a price of $10 is 2,000 and the quantity demanded at a price of $8 is 2,400, a price-discriminating monopolist would want to:
A. sell 2,000 units for $10 each and then sell an additional 400 units for $8 each. B. charge all consumers the higher price of $10 and sell 2,000 units. C. charge all consumers $8 in order to increase quantity sold to 2,400. D. sell 2,000 units for $8 each and then sell an additional 400 units for $10 each.
In the above figure, what happens to the firm's optimal level of output if the price it receives for its product increases from P2 to P3?
A. Output decreases. B. Output increases. C. Output stays the same. D. There is not enough information provided to know what happens to output.