Evidence suggests that as the amount of market power possessed by the firms in an industry increases, the amount of X-inefficiency will decrease

Explain how the decision by parents to not immunize their children, hoping that their children will not get sick because other parents have had their children immunized, is an example of free riding

How is this behavior dangerous to the public and therefore not socially optimal?

In the above table, if this is a perfectly competitive firm and the market price of the product is $8, what is the marginal revenue product of worker 3?

A) $96 B) $88 C) $80 D) $240