Private goods are not excludable

a. True
b. False
Indicate whether the statement is true or false


False

Economics

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The South African diamond production monopoly is an example of monopoly through

A. “patent power.” B. legal restriction. C. control of scarce resources. D. large sunk costs.

Economics

Generally speaking, firms _____ of their capital assets

a. prefer straight-line depreciation b. prefer accelerated depreciation c. are indifferent between straight-line and accelerated depreciation d. prefer not to depreciate

Economics

Under conditions of first-degree price discrimination

A) production will equal that which would exist under perfect competition. B) production will exceed that which would prevail under perfect competition. C) prices will be lower than under perfect competition. D) production will always be lower than under perfect competition.

Economics

Firms tend to raise the price of their goods after acquiring a firm that sells a substitute because

a. They lose market power b. There is an increase in the overall demand for their products c. The bundle has a more elastic demand than individual goods d. The bundle has a more inelastic demand than individual goods

Economics