Three business people meet for lunch at an Indian restaurant. They decide that each person will order an item off the menu, and they will share all dishes. They will split the cost of the final bill evenly among each of the people at the table. When the food is delivered to the table, each person faces incentives similar to the
a. consumption of a common resource good.
b. production of a public good.
c. consumption of a club good.
d. production of a private good.
a
Economics
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The figure above shows the market for iPods. Which of the following creates a movement from point A to point B?
A) a decrease in the price of Zunes, a substitute for iPods B) a requirement that all students at universities have an iPod C) a decrease in the price of iPods D) an increase in the price of iPods E) an increase in people's incomes
Economics
When each box in an organization chart contains individuals who specialize in some field, then the activities in the organization are categorized by _____
a. divisionalization b. functionalization c. decentralization d. de-integration
Economics