Why will a private market be unable to produce the efficient quantity of public goods?
A) because the good's marginal cost is too low
B) because the good is nonexcludable, so there is the free rider problem
C) because the good is rival, so no one will want to pay the producer for it
D) All of the above answers are correct.
B
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A decrease in the price of a complement in production leads to
A) no change in the supply of the good in question. B) an increase in the supply of the good in question. C) a decrease in the supply of the good in question. D) a decrease in the quantity supplied of the good in question. E) an increase in the supply of the good in question and a decrease in the quantity supplied of the good in question.
An efficiency wage is ________ because the result is ________
A) set below the equilibrium real wage; reduced turnover and more work effort B) set above the equilibrium real wage; reduced turnover and more work effort C) not often used; not much different from minimum wage use D) set above the equilibrium real wage; increased turnover and more work effort E) set above the equilibrium real wage; reduced turnover and less work effort
At a recent company meeting, Geraldine Erwin, sales manager of Dastoria, a flavored-beverage producer announced, "We have increased our sales by 8 percent in just six months"
Suppose six months ago, its sales amounted to $452,000, what is the value of its sales today? A) $36,160 B) $415,840 C) $488,160 D) $565,000
During the Great Depression of the 1930s, unemployment peaked at _____%
a. 5 percent b. 10 percent c. 20 percent d. 25 percent e. 30 percent