Most public goods produced by government are nonexcludable because the costs of exclusion are too high
a. True b. False
b
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The manager of Slick Lens, a sunglasses manufacturer, notices that the cost to purchase lenses for their sunglasses in the spot market has increased. As a result of the change, which of the following is true?
A) The manager has more of an incentive to integrate backward. B) The manager has less of an incentive to integrate backward. C) The manager has more of an incentive to integrate forward. D) The manager has less of an incentive to integrate forward.
Use the figure below to calculate the cross-price elasticity of demand for good X when the price of good Y increases from $12 to $14:
A. 0.64 B. 0.20 C. 15.38 D. 0.42 E. 2.00
The long-run average cost curve is typically:
A. upward-sloping at first but then downward-sloping. B. downward-sloping at first but then upward-sloping. C. always downward-sloping. D. always upward-sloping.
Maximum Feasible Hourly Production Rates of EitherProduct A or Product B Using All Available ResourcesProductCountry XCountry YA48B44 Refer to the above table. Assuming constant opportunity costs
A. both countries will be willing to engage in trade at a rate of exchange of 3 units of product A for 1 unit of product B. B. both countries will be willing to engage in trade at a rate of exchange of 1.5 unit of product A for 1 unit of product B. C. both countries will be willing to engage in trade at a rate of exchange of 0.3 unit of product A for 1 unit of product B. D. neither country will be willing to engage in trade at any rate of exchange of product A for product B.