Factors that prevent the Coase Theorem from working include all of the following, except:
A. private property rights.
B. transaction costs.
C. income effects.
D. more than two individuals affected.
Answer: A
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Vicky currently produces at point a in the figure above. If Vicky moves from point a to point b to point c, her opportunity cost of a modem ________
A) decreases B) increases C) is zero D) remains the same
From 2001 to 2015, the debt—GDP ratio in the United States
A) steadily fell. B) steadily increased. C) was about constant. D) fell from 1995 to 1998, then rose sharply.
If Happy Campers, Campers R Us, and Happy Trails each have a market share of 22 percent, according to Chinese law, Happy Campers ________ be considered a dominant firm because the total market share across the three firms is ________ percent.
A) would; 66 B) would; 22 C) would not; 66 D) would not; 22
All of these are characteristics of a competitive industry, except:
a. Many substitutes b. No barriers to entry c. Homogenous product d. Little or no information on rivals' products