The efficient output level of a public good occurs where the
A) greatest number of free riders occurs.
B) marginal cost of producing the last unit is equal to the marginal benefit realized by consumers.
C) marginal cost of production is minimized.
D) total cost of production is affordable.
B
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Voting power in the IMF is determined by
A) the quota subscription size. B) the population size of member states. C) the size of the member nation's trade surplus. D) the length of membershi
Assume that the above figure represents the domestic supply and demand for coffee.The domestic price with no trade is represented by $5.50 . The price with free trade is represented by $4.00
Assume that the government places a $1 per pound tariff on imported coffee, which decreases the domestic quantity demanded of coffee by 100 million pounds and increases domestic production by 100 million pounds. Draw the rectangle that would represent the amount of tax revenue that the government would realize from this tax and calculate the dollar figure.
The per-worker production function relates output per worker
A) to capital per worker. B) to the participation rate. C) to production per worker. D) in different countries.
In England, a system of established markets, the market overt and fairs, had been established. The purpose was to
(a) provide an organized means for the exchange of produced goods or movable property such as livestock. (b) allow government officials to inspect the quality of the goods and regulate business activities. (c) provide for the legal transfer of title when chattel goods changed hands between buyers and sellers. (d) apply all of the above.