If it is possible to place a commonly held resource under private ownership, then:
A. the privately held resource will be underused relative to the social optimum.
B. the tragedy of the commons becomes even worse.
C. the tragedy of the commons can be solved.
D. the privately held resource will be overused relative to the social optimum.
Answer: C
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Tee-shirt Integration Tee-shirt Titan produces a variety of lines of "ironic" designs that it sells nationwide. It also sells plain tee-shirts in a variety of colors to smaller local silkscreen shops. It noticed that one of these, Shasta Shirtwerkz, has
experienced substantial growth and profitability due to its even more clever designs. Should Tee-shirt Titan purchase Shasta Shirtwerkz as another line within their product offerings?
If a good is inferior and its price increases,
a. the income effect will be positive and the substitution effect will be positive. b. the income effect will be negative and the substitution effect will be negative. c. the income effect will be positive and the substitution effect will be negative. d. the income effect will be negative and the substitution effect will be positive.
Refer to the accompanying table. The law of diminishing marginal utility:UnitsMarginal Utilityof Good AMarginal Utilityof Good B1304022733315244814
A. applies to both Good A and Good B. B. applies to Good A but not Good B. C. applies to Good B but not Good A. D. does not apply to either Good A or Good B.
Which writer held the view that by showering so much money on the poor, the government robbed them of their incentive to work?
A. Barbara Ehrenreich B. Frances Fox Piven C. Charley Murray D. William Julius Wilson