A positive consumption externality occurs when;
a. When jack receives a benefit from john's consumption of a certain good
b. When jack receives personal benefit from his own consumption of a certain good
c. When jack benefits exceed johns benefits wo............
d. When jack consumes of a good is not beneficial to john
a. When jack receives a benefit from john's consumption of a certain good
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The short-run shutdown rule is to shut down if:
A. P > AVC. B. P < AVC. C. P > ATC. D. P < ATC.
A company has two locations where it employs workers doing the same job and working the same hours. Other things the same most workers would prefer to live in location A, but location A has a higher cost of living than location B
a. The company likely needs to pay workers in location A more. b. The company likely needs to pay workers in location B more. c. It's not clear if the company would need to pay more to workers in location A or location B. d. The company must pay workers the same amount.
Surplus value that is lost because something is keeping the market from functioning as well as it can is called
A) a tax. B) a subsidy. C) rent seeking. D) deadweight loss.
Some observers opposing free trade argue that when we buy shoes from Brazil, U.S. workers lose their jobs. The fact of the matter is that
A) no U.S. worker has actually lost a job because of free trade. B) most jobs lost because of free trade pay less than the poverty level. C) free trade creates jobs in export industries. D) the jobs lost are really in Brazil.