Rational ignorance about the efficient quantity of a public good can result in
A) the principle of minimum differentiation.
B) excludable goods.
C) bureaucratic overprovision of a good.
D) the vertical summation of individual's marginal benefit curves.
C
Economics
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A chief reason firms give employees bonuses based on the firm's profit is to cope with
A) the tax laws. B) the law of diminishing returns. C) the principal-agent problem. D) unions.
Economics
In general, it is fair to say that Americans are provided with
A. a greater amount of product differentiation than people in most other countries. B. less amount of product differentiation than people in most other countries. C. about the same amount of product differentiation as people in other countries.
Economics