A free good lacks the element of
a. usefulness.
b. scarcity.
c. transfer ability.
d. tangibility.
b. scarcity.
You might also like to view...
The double taxation problem occurs because households pay taxes on dividends and capital gains from stock and corporations pay taxes on corporate profits
Indicate whether the statement is true or false
Sources of positive net present value projects include
a. buyer preferences for established brand names b. economies of large-scale production and distribution c. patent control of superior product designs or production techniques d. a and b only e. a, b, and c
Suppose there are 8 firms in an industry, and each has a different market share. If the largest firm has twice the market share of the second largest, which has twice the market share of the third largest (and so on to the eighth firm), what is the approximate four-firm concentration ratio?
a. 65 percent b. 84 percent c. 94 percent d. 60 percent e. 50 percent
Any change in a firm's fixed costs will change its profit-maximizing level of output
a. True b. False Indicate whether the statement is true or false