Which of the following best explains why garbage collectors are paid a higher wage than many others with comparable skills?
a. because of the dangers associated with collecting trash
b. because garbage collectors work much longer hours on average than do those in other jobs
c. because of the unpleasantness associated with trash collection
d. because garbage collectors possess skills that are in relatively high demand
c
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In early 2012 the price of computer hard disc drives rose. In a demand and supply model, shifts in what curve or curves could have brought about the higher price?
What will be an ideal response?
In the figure above, a firm is operating at point A on the graph. At point A, the firm's average cost curve
A) has negative slope. B) has positive slope. C) is horizontal. D) is vertical.
Tanesha sells homemade candles over the Internet. Her annual revenue is $64,000 per year, the explicit costs of her business are $17,000, and the opportunity costs of her business are $22,000. What is her accounting profit?
A) $17,000 B) $22,000 C) $47,000 D) $64,000
Because of the free rider problem
a. private solutions to externality problems are often needed b. side payments are needed in order to achieve Pareto improvements c. governmental solutions to externality problems are often needed d. side payments are needed in order to solve externality problems e. private solutions to externality problems are common