When there is a positive externality associated with the watering of one's lawn, the free market results in
a. not enough lawn watering
b. too much lawn watering
c. the socially optimal level of lawn watering
d. people watering each other's lawns
e. government taxes on lawn watering
A
Economics
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In the context of a production function, the remote order takers in the fast food industry would be classified as:
A) a fixed input. B) a marginal input. C) a variable input. D) an inframarginal input.
Economics
The opportunity cost of a good increases as more of it is produced because
A) producing more of a good requires additional resources. B) the number of forgone alternatives also increases. C) resources are not equally productive in all activities. D) people want the good less as more is produced. E) there is no such thing as a free lunch.
Economics