Refer to Table 10-7. What is Antonio's marginal utility from consuming the fifth beer?
A) 4 utils B) 13.6 utils C) 69 utils D) 134 utils
A
You might also like to view...
Which of these will not lead to a monopoly?
(A) A patent (B) A franchise (C) Antitrust laws (D) A license
For a regulated natural monopoly, the marginal cost pricing rule is a rule that sets price ________ marginal cost and achieves an ________ amount of output
A) equal to; efficient B) above; inefficient C) below; efficient D) equal to; inefficient E) above; efficient
Refer to Scenario 4 . What is the opportunity cost of building one more prison?
What will be an ideal response?
Perfectly competitive markets will tend to under-allocate resources to nonexclusive public goods because:
a. these goods are produced under conditions of increasing returns to scale. b. no single individual can appropriate the total benefits provided by the purchase of such goods. c. these goods are best produced under conditions of monopoly. d. no private producer can provide the capital necessary to produce such goods.