A key reason why pollution and other negative externalities arise is because there are no practical, enforceable property rights to open-access resources such as the air and the ocean
Indicate whether the statement is true or false
true
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Use the figure above to answer this question. Mary is the only veterinarian in a small town and rents a space for her practice. If Mary's landlord decided to charge ________ per hour in rent, Mary would ________
A) $20 more; earn $0 economic profit B) $20 more; still earn an economic profit because she is a monopolist C) $30 more; earn $0 economic profit D) $10 less; raise her prices and earn a higher profit E) $30 more; operate on the inelastic portion of her demand curve
Jennifer trades her autographed picture of Hulk Hogan for Alyssa's autographed picture of Pee-wee Herman, and both are happy with the exchange. This is an example of
A. voluntary exchange. B. Pareto optimality. C. general equilibrium. D. partial equilibrium.
In the long run, the economic profits for a monopolistically competitive firm will be
A. slightly more than the profits of a purely competitive firm. B. the same as the profits for a purely competitive firm. C. the same as the profits for a monopolist. D. slightly less than the profits of a monopolist.
________ inflation is more stable than __________ inflation, because it ____________.
A. Core; headline; excludes food and gasoline prices B. Headline; core; excludes food and gasoline prices C. Core; headline; does not exclude food and gasoline prices D. Headline; core; does not exclude food and gasoline prices