"The Internet is nonrival, which means it's a public good." Do you agree or disagree? Explain
What will be an ideal response?
The statement is incorrect. A public good is both nonrival and nonexcludable. Although the Internet is nonrival, it is excludable, which means that the Internet is a natural monopoly, rather than a public good.
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Based on the information in the table, what is the unemployment rate?Population 16 and older1,000,000Participation Rate80%Employed Workers720,000
A. 10.0% B. 8.0% C. 28.0% D. 7.2%
In 2014, the price of peanuts was rising, which lead peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future
Consequently, in the current market for peanut butter there was ________ which resulted in a ________ in the price of peanut butter and ________ in the quantity of peanut butter. A) a decrease in supply of peanut butter and an increase in demand for peanut butter; rise; an increase, decrease or possibly no change B) a decrease in supply of peanut butter and a decrease in demand for peanut butter; rise, fall, or possibly no change; a decrease C) an increase in supply of peanut butter and a decrease in demand for peanut butter; fall; an increase, decrease or possibly no change D) a decrease in supply of peanut butter and an increase in demand for peanut butter; fall; an increase, decrease or possibly no change
DSGE models are
A) similar to RBC models but allow for shocks other than productivity shocks. B) similar to RBC models, but government spending shocks play a major role. C) similar to Keynesian models except in the long run. D) similar to Keynesian models except in the short run.
A firm with market power faces the following estimated demand and average variable cost functions:Qd = 39,000 - 500P + 0.4M - 8,000PRAVC = 30 - 0.005Q + 0.0000005Q2where Qd is quantity demanded, P is price, M is income, and PR is the price of a related good. The firm expects income to be $40,000 and PR to be $2. Total fixed cost is $100,000. What is the estimated demand function for the firm?
A. Qd = 40,000 - 200P B. Qd = 39,000 - 500P C. Qd = 39,000 - 200P D. Qd = 71,000 - 500P