A good or service or a resource is excludable if
A) it is possible to prevent someone from enjoying its benefits.
B) it is not possible to prevent someone from enjoying its benefits.
C) its use by one person decreases the quantity available for someone else.
D) its use by one person does not decrease the quantity available for someone else.
A
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Child abuse investigators are responsible for:
a) assessing the safety of children who are at risk of maltreatment. b) deciding what types and levels of services may be immediately needed to keep children safe. c) determining under what conditions children must be placed in out-of-home care for their protection. d) all of the above
Refer to Scenario 2 . Over a long period of time, in the absence of any restrictions in the market, would you expect the price elasticity of demand for crabs to be more elastic or inelastic? Explain
What will be an ideal response?
Ronny's Pizza House is a profit maximizing firm in a perfectly competitive local restaurant market, and their optimal output is 80 pizzas per day. The local government imposes a new tax of $250 per year on all restaurants that operate in the city
How does this affect Ronny's profit maximizing decisions? A) No impact on the restaurant's decisions B) Ronny's will remain in business but will definitely produce less pizza C) Ronny's will definitely shut down D) Ronny's decision depends on the circumstances -- if their profits are larger than $250 per year, then the tax does not impact output; otherwise, Ronny's Pizza House will shut down.
Carefully explain why there are gains from intraindustry trade
What will be an ideal response?