Crabs caught from an ocean are an example of a _____
a. common resource
b. club good
c. public good
d. private good
a
You might also like to view...
Assume that both the demand curve and the supply curve for MP3 players shift to the right but the demand curve shifts more than the supply curve. As a result
A) the equilibrium price of MP3 players will decrease; the equilibrium quantity may increase or decrease. B) the equilibrium price of MP3 players will increase; the equilibrium quantity may increase or decrease. C) the equilibrium price of MP3 players may increase or decrease; the equilibrium quantity will increase. D) both the equilibrium price and quantity of MP3 players will increase.
A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. If the market maker is free to choose the number of transactions he can make, what is his maximum profit?
a. $8 b. $10 c. $18 d. $28