The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for cod, a common resource. The market equilibrium with no government intervention is ________

The costs in time and other resources that parties incur in the process of facilitating an exchange of goods and services are called

A) implicit costs. B) explicit costs. C) enforcement costs. D) transactions costs.

The computerization of police departments throughout the country has greatly reduced the crime rate. What macroeconomic variable is likely to be directly affected by this change?

A) Productivity B) Inflation C) The real interest rate D) The trade deficit