In the consumption of public goods
A) consumers can be excluded.
B) free riders can be excluded.
C) consumers cannot be excluded.
D) government is excluded.
C
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The graph illustrates the supply of sweaters. A fall in the price of sweaters brings
A) a decrease in the quantity supplied of sweaters. B) a movement along the supply curve. C) a shift of the supply curve. D) Both answers A and B are correct. E) Both answers B and C are correct.
"When countries specialize in producing the good in which they have a comparative advantage and then trade with each other, only the country with the absolute advantage gains
" Is the previous statement correct or incorrect? Briefly explain your answer.
Everything else held constant, when financial frictions increase, the real cost of borrowing ________ so that planned investment spending ________ at any given inflation rate
A) increases; falls B) decreases; falls C) decreases; rises D) increases; rises
A cartel
a. consists of two firms that collude to eliminate product differentiation so that they can sell their goods as identical goods b. is a group of firms that collude to limit competition within their market c. refers to the breakup of a firm into two or more firms where each produces a good that does not compete against the others d. is a government-supported merger of two or more firms to improve the nation's advantage in international trade e. is an illegal merger of two firms that produce unrelated goods