A public good is:
a. a good or service for which it is relatively easy to exclude nonpaying customers from consumption.
b. a good or service that is consumed by both the paying and nonpaying customers
c. any good or service that is produced by the government.
d. a good or service that is consumed by private individuals and financed by private contributions.
b
Economics
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Mary Ellen lives in a large city and earns $100,000 a year. Her sister, Molly, lives in a small rural community and earns only $20,000 a year
Based on this information, can you conclude that Mary Ellen is better off than her sister? Explain your answer.
Economics
If the total cost of producing 20 units of output is $1,000 and the average variable cost is $35, what is the firm's average fixed cost at that level of output?
A) $65 B) $50 C) $15 D) It is impossible to determine without additional information.
Economics