Nonexcludability causes:
A. people to demand a higher quantity than they would if they had to pay for what they consumed.
B. people to demand a lower quantity than they would if they paid for what they consumed.
C. firms to supply a lower quantity than they would if they incurred the full costs of the provision of the good.
D. firms to supply a higher quantity than they would if they had to pay for what they supplied.
A. people to demand a higher quantity than they would if they had to pay for what they consumed.
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Suppose that at the current level of output, Pat's Hats has fixed costs of $500, variable costs of $1,000 . and $2,000 in total revenue. Which of the following is true?
a. Profit is currently $500 and, in the long run, it will be $1,000 because there will be no fixed costs. b. Profit is currently $500 and, in the long run, it will be $1,500 because there will be no variable costs. c. Profit is currently $500. d. Profit is currently $500, and Pat's Hats will want to decrease its plant size in the long run to lower its fixed costs. e. Pat's Hats will continue to operate as long as revenue is greater than $500.
According to the table shown, what is the firm's total revenue when 4 units are produced?
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.
A. $160
B. $50
C. $200
D. $40
When we are at full employment, if demand rises, aggregate supply will rise in the form of higher _____.
Fill in the blank(s) with the appropriate word(s).
National health insurance programs:
A. are starting to be implemented in poorer areas like Ghana to increase access to health care. B. still face challenges in some areas to provide good, high quality care. C. can increase use of health clinics versus traditional village doctors, who often have no training. D. All of these statements are true.