The market supply curve for a public good is derived from the typical profit-maximizing behavior of firms
a. True
b. False
Indicate whether the statement is true or false
True
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When the CPI rises ________, the inflation rate is ________
A) rapidly; low B) rapidly; high C) steadily; zero D) slowly; high E) rapidly; either high, low, or zero depending on whether production of output is increasing, decreasing, or not changing.
The social cost of cutting trees for firewood in a government forest is
A) the increased likelihood of flooding as more trees are cut. B) opportunity cost to the individual of cutting the wood. C) the increased likelihood of flooding as more trees are cut plus the private cost of cutting the trees. D) the marginal costs of cutting the last tree.
In a successive monopoly structure, the profit-maximizing wholesale price is equal to the difference between the ________ and the ________ of distribution.
A) wholesale demand; marginal cost B) retail demand; marginal revenue C) wholesale demand; marginal revenue D) marginal revenue; marginal cost
Peak load pricing which causes consumers to pay higher prices at certain times leads to greater efficiency
a. True b. False Indicate whether the statement is true or false