Explain how firms that each produce as efficiently as they can, may not be equally productive
What will be an ideal response?
Firm-specific characteristics may vary the level of productivity for firms even if all firms operate as efficiently as each possibly can.
Economics
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Free riders are not a problem in the market for a private good because
A) non-payers can be excluded from consuming the good. B) the good is a rival good. C) the good can be produced only at a positive marginal cost. D) the free rider will not get caught.
Economics
Franklin D. Roosevelt's nationwide "Bank Holiday" in March 1933 merely finished the job started by the governors of the states, who were already closing down the banking systems
Indicate whether the statement is true or false
Economics