Common property resources like fish stocks in open waters tend to be over-utilized because:
A) the marginal social cost is less than the private marginal cost.
B) the marginal social cost is always equal to the private marginal cost.
C) the marginal social cost is greater than the private marginal cost.
D) none of the above
C
You might also like to view...
The industrial organization or (IO) perspective predicts
a. firm's profitability differs only if they are in different industries b. firms within an industry are equally profitable c. firm's profitability within industries varies widely d. Only A&B
Which term(s) in the general form of the t statistic is (are) computed differently between the usual OLS t-statistic and the heteroskedasticity-robust t-statistic?
A. Estimate and standard error. B. Estimate, standard error, and the hypothesized value. C. Estimate only. D. Standard error only.
Since World War II, tariff reductions have occurred in large part because of negotiations under the:
A. Industry and Trade Administration Act. B. Employment Act. C. Monetary Control Act. D. General Agreement on Tariffs and Trade.
The exchange rate that equates the quantities of currency supplied and demanded in the foreign exchange market is called the ________ exchange rate.
A. target value of the B. market equilibrium value of the C. real value of the D. fixed value of the