Which of the following is an example of the free-rider problem?
a. Both Zoe and Zach receive low-cost dental care at the local dental school, so neither of them pays the full cost of the care.
b. Alfred receives a free lunch from the local "Meals on Wheels" program because of his low monthly income. Yet his next door neighbor, Alice, is not eligible for the free lunch.
c. Bruce owns Buster, a large dog who barks whenever anyone walks near his house. Betty lives next to Bruce, and Buster's barking can be heard whenever anyone walks near her house, too. Thus, Betty receives free protection from burglars because of Buster's barking.
d. Sam purchases a burger at a fast food restaurant and gets a second burger free because the restaurant is having a buy one, get one free sale.
c
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How will the invisible hand move corn prices in response to:
a. a flood that destroys a great deal of the corn crop? b. a rise in the price of wheat (a substitute for corn)? c. a change in consumer tastes away from corn dogs toward hot dogs? d. an increase in the number of people with access to the corn market?
Derive the interest parity condition and interpret it
What will be an ideal response?
When analyzing a problem, if an economist is attempting to understand what the future implications of an action are without considering whether or not the action was fair or just, the economist is thinking
A. negatively. B. normatively. C. justifiably. D. positively.
What are the categories of risk that police departments face?
What will be an ideal response?