As interest rates decrease, the:
A. Cost of current relative to future consumption increases
B. Cost of current relative to future consumption decreases
C. Cost of current consumption relative to future consumption remains the same
D. Desire of many individuals to save increases
B. Cost of current relative to future consumption decreases
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The act of buyers and sellers freely conducting business in a market
a. voluntary exchange b. free market system c. profit motive d. fraud
The basic reason that your college's women's basketball tickets are rarely, if ever, scalped is because
A. no one would ever pay more than the face value for such a ticket. B. women's basketball is exempt from the laws of supply and demand. C. brokers/scalpers just have not yet hit your city. D. sellouts are required for scalping to work, and these games rarely sell out.
Give five examples of industries that are monopolistically competitive.
What will be an ideal response?
Refer to the information provided in Figure 16.4 below to answer the question(s) that follow.Los Angeles International Airport (LAX) is located next to Playa Del Rey. The noise from air traffic negatively affects individuals living in Playa Del Rey, however, this cost is not considered by airlines or air travelers. The airlines feel they have a right to use the airspace while the individuals living in Playa Del Rey feel they have the right to quiet. The following diagram depicts the marginal costs and marginal benefits associated with air travel.
Figure 16.4Refer to Figure 16.4. Suppose the government assigns property rights to ________. No negotiations
occur between the parties. The resulting level of air travel is 0 units. A. both the airlines and the residents of Playa Del Rey in a 50-50 split B. the airlines C. the residents of Playa Del Rey D. indeterminate from the given information.