Which of the following is not a common property?
A) a city park
B) a main street
C) a public beach
D) a movie screening
D
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Dustin's copy shop can use four alternative plants. The figure above shows the average total cost curves for Plant 1 (ATC1), Plant 2 (ATC2), Plant 3 (ATC3), and Plant 4 (ATC4)
What is Dustin's long-run average cost if the output is 3,000 copies per day? A) 3.7 cents per copy B) 5.0 cents per copy C) 8.5 cents per copy D) More information is needed to determine the long-run average cost.
For an individual such as a movie star or a pop singer whose natural talents are almost impossible to duplicate
A) all of their earnings consist of economic rents. B) none of their earnings consist of economic rents since rent applies only to land. C) part of their earnings consists of economic rents. D) all of their earnings consist of interest payments.