As increasing amounts of a good are produced, the marginal cost of production tends to
a. rise.
b. fall.
c. remain constant.
d. change unpredictably.
a. rise.
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The health care system in Canada is referred to as ________, and is a system in which the provincial governments provide national health insurance to all Canadian citizens
A) a single-payer system B) a universal health insurance system C) socialized medicine D) a private health care system
The figure above shows the market for polio vaccination in Pakistan. Polio vaccination confers an external benefit because one person's vaccination makes it less likely that other people will catch polio
a. If the market is competitive and left unregulated, how many doses of vaccine will be administered? b. If the Melinda and Bill Gates Foundation underwrites the cost of the vaccine by paying for a large fraction of the preparation and delivery cost, what will happen to the number of doses administered? Why?
Structural unemployment occurs when: a. automation reduces the need for welders in Detroit
b. frictional unemployment exceeds 5 percent of the labor force. c. steelworkers are laid off due to a downturn in the economy. d. a person leaves a job to seek a better position and has not yet found the job he or she wants.
Are municipal tennis courts and municipal golf courses public goods? Why or why not?