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A public good:
A) Generally results in substantial negative externalities.
B) Can never be provided by a nongovernmental organization.
C) Costs essentially nothing to produce and thus is provided by the government at a zero price.
D) Can't be provided to one person without making it available to others as well.
There are 4 main types of market economies. They are also called as Economic Systems. The four are Free Market, Mixed Market, Traditional and Command Economy
Suppose that Mr. Chauncey Gardener consumes two goods, X 1 and X 2 .His preferences can be described by the following utility function: U = X 1 0.5 X 2 0.5 He
illustrate the effects of a reeal wage existing in the labour market if it is perfectly competitive
the production of 200 units of consumer goods and 300 units of capital goods : a) indicates full employment b) may be a result of unemployment c) may be impossible for now d)
In 1999 Mercedes-Benz USA adopted a new pricing policy, which it called NFP (negotiation-free process), that sought to eliminate price negotiations between customers and new-car de
1. Should each person behave in the workplace the way they do at home? Or should each person have a separate set of ethics for each part of their life? 2. What if you are the bo
What isn''t a component of the M1 money supply?
The following table have data for a hypothetical open economy. The amount of investment spending is unknown. Question: What is the level of private savings? Question: Wh
Assume Workers Comp awards $X to workers not working because of injury. $X is set to equal the workers previous wages. Once workers return to work, the award payments stop. Suppose
Here from a), profit maximizing price = 7 and Q = 10. It is shown in the figure below:- The consumer surplus is shown in blue area which is given as (9-7) *10*1/2 =10 dolla
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