What are some of the ways a private group can overcome a free rider problem?
What will be an ideal response?
Giving a private gift with a contribution, arranging matching contributions, and appealing to civic or moral responsibility by such methods as publicizing contributors names.
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The collapse of Enron Corporation is a reminder of the importance of ________
A) moral hazard B) government-directed credit C) energy trading D) transparency
Refer to the game between James and Theodore depicted in Figure 12.2. Which of the following is true?
A. If James chooses Up, Theodore's best response is to choose Left.
B. If James chooses Down, Theodore's best response is to choose Left.
C. If Theodore chooses Left, James's best response is to choose Down.
D. If Theodore chooses Right, James's best response is to choose Up.
Increasing opportunity costs of producing goods imply that the production possibilities curve will be
a. downward sloping. b. upward sloping. c. bowed inward. d. bowed outward.
A firm's total revenue can be determined by
A. Total costs minus variable costs. B. Profits minus costs. C. Fixed costs minus quantity. D. Price times quantity.