There are apartments in Chicago whose rooftops overlook Wrigley Field. On game day you can find free riders on the roof enjoying ____

a. free property rights b. an externality
c. a public good d. excess utility

b

Economics

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The price elasticity of supply is higher when

A) the number of producers in the market increases over time. B) the product in question is a complementary good. C) the number of buyers in the market increases. D) producers have less time to adjust to price changes.

Economics

Suppose there is no inflation, and the current interest rate is 4% per year. Erin plans to open a savings account and deposit $100 annually for the next 5 years. She plans to leave this money untouched for 10 more years. At the end of the period, the balance of her savings account will be

A) 2500(1.045 - 1). B) 2000(1.0415-1). C) 2000(1.045 - 1)(1.04)10. D) 2500(1.045 - 1)(1.04)10.

Economics