Which of the following would be the best example of a near public good?
a. a candy bar
b. a painting by Monet
c. a taxi cab
d. a beautiful sunset
e. a national park
E
Economics
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In a perfectly competitive industry, the demand for a single firm's product is perfectly elastic
A) because this firm's output is a perfect substitute for any other firm's output. B) because this firm is a price maker. C) only in the long run. D) because there are many buyers in this market.
Economics
The tendency of people to underestimate the time required to complete a task is called the:
A. Planning fallacy B. Framing effect C. Hindsight bias D. Availability heuristic
Economics