My roommate ________. This is an example of an external benefit.
A. plays the drums whenever I am home
B. sings (badly) in my presence
C. cleans up after his dog and keeps it from eating my ferrets
D. smokes cigars in the kitchen whenever I make dinner
Answer: C
Economics
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The supply curve for a monopolist
a. is its marginal cost curve b. is vertical because there are no close substitutes for its product c. is horizontal because there are no close substitutes for its product d. slopes upward e. does not exist
Economics
Opponents of land nationalization argue that private ownership:
A. Allows rent to function as an efficient allocation mechanism B. Is fair in terms of equalizing income distribution C. Follows the natural order of things in society D. Is consistent with detailed government planning for land use
Economics