Which of the following describes Ralph?
Ralph loves to watch public television but never sends any money to support the local station.
a. He is a free rider getting benefits without paying any costs.
b. He has a positive externality from television watching.
c. He has a negative externality from television watching.
d. He is a free rider paying costs without receiving any benefits.
a. He is a free rider getting benefits without paying any costs.
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A firm has explicit costs of $110,000 and total revenue of $120,000. Which of the following is true about the firm?
A) The firm might be making an economic profit but we need more information about implicit costs to know for sure. B) The firm is definitely making an economic profit because it must be minimizing its opportunity cost. C) The firm is incurring an economic loss if implicit costs are $10,000. D) The firm is making a normal profit if implicit costs are $0. E) The firm may be making an economic profit but only if implicit costs are negative.
A college education is a(n)
A. investment in human capital. B. form of innovation. C. public good. D. mediated settlement.
The true burden of a payroll tax has nothing to do with the percentage of the tax that employers are required to pay
a. True b. False Indicate whether the statement is true or false
Currently the main sources for basic research are
A. small businesses. B. large corporations. C. charitable organizations. D. government and universities.