Refer to the scenario above. If Mary prefers fairness to money, ________
A) she will not accept any offer that Beth makes
B) she will accept any offer that Beth makes
C) she will accept the offer only if Beth offers her $2,500
D) she will accept the offer only if Beth offers her $5,000
C
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The sum of the marginal private benefit and the marginal external benefit derived from eco-tourism in British Columbia is called the
A) total private benefit. B) net gain. C) total external benefit. D) marginal social benefit. E) total Coase benefit.
Frictional unemployment goes up when:
A. Students quit work to return to school at the end of the summer. B. A corporation transfers a worker to another city. C. A worker quits one job in order to search for another. D. There is inadequate demand for labor.
Refer to the accompanying table. Julia's opportunity cost of making a pie is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. 6/5 of a cake. B. 5/6 of a cake. C. 6 cakes. D. 60 cakes.
Which of the following do a monopolist and a competitive firm generally have in common?
A. predatory pricing B. barriers to entry C. marginal cost pricing D. the quest for profits