A product is considered to be nonexcludable if
A) you cannot keep those who did not pay for the item from enjoying its benefits.
B) it is jointly owned by all members of a community.
C) your consumption of the product reduces the quantity available for others to consume.
D) you can keep those who did not pay for the item from enjoying its benefits.
A
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Given the data in the table below, what is the short-run profit-maximizing level of output for the perfectly competitive firm?OutputTotal RevenueTotal Cost1$4$228331264161052015
A. 2 units B. 3 units C. 4 units D. 5 units
Explain the three reasons the aggregate demand curve slopes downward
What will be an ideal response?
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What will be an ideal response?
Perfectly elastic demand curves are irrelevant, since real world demand curves are never perfectly elastic
a. True b. False