A public good is available to all regardless of who pays for it and who does not
a. True
b. False
A
You might also like to view...
A person goes to college to become an engineer. This is an example of an
A) investment in physical capital. B) investment in human capital. C) increase in entrepreneurship. D) increase in labor.
When a regulatory agency uses marginal cost pricing to regulate a monopolist,
a. price will exceed marginal cost. b. production costs will probably exceed the total revenues of the monopolist. c. marginal cost will equal average total cost. d. social welfare could be improved if average cost pricing was used instead
Most spells of unemployment are short, and most unemployment observed at any given time is long-term
a. True b. False Indicate whether the statement is true or false
The wholesale price of cranberries in the market is currently $0.83/lb. The quantity supplied at this price is 90,000 pounds. The quantity demanded is 95,000 pounds. In this case, there is:
a. Excess supply in the market and this is a signal for sellers to decrease price b. Excess supply in the market and this is a signal for suppliers to increase price c. Excess demand in the market and this is a signal for consumers to buy less d. Excess demand in the market and this is a signal for consumers to buy more e. The market is in equilibrium