Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below.
Suppose the city receives a grant that pays one half of the cost of each acre the city buys. If the cost of land is $28 per acre, the optimal park size is
A. 6.
B. 2.
C. 4.
D. 8.
Answer: A
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Please provide the best answer for the statement.
Deterrence quantity equals zero profit quantity less minimum entry quantity.
Answer the following statement true (T) or false (F)
If a consumer in UK buys a camera from a manufacturer in the U.S., everything else remaining unchanged, ________
A) the UK's net factor payment from abroad will fall B) there will be a deficit in U.S.'s financial account C) the U.S.'s net exports will increase D) the U.S.'s net transfer payment will increase
The shape of the production possibilities curve in the above figure indicates that
A) production of corn is characterized by increasing costs while the production of cloth is characterized by decreasing costs. B) production of both corn and cloth is characterized by increasing costs. C) production of both corn and cloth is characterized by constant costs. D) production of corn is characterized by constant costs and the production of cloth is characterized by increasing costs.