The productivity of any input is independent and is not affected by the other resources that are used.
Answer the following statement true (T) or false (F)
False
The productivity of any factor of production depends on the amount of other resources available to it. For example, a snow removal worker will be more productive with a show shovel than without one.
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Harvey Rabbitt pays for monthly cable TV service. Last week the cable company informed Harvey that his monthly cable price would go down because the city council has granted approval for three new cable companies to service his area
How is the market for cable TV services affected by this? A) There is a decrease in the quantity of cable TV service supplied. B) There is a decrease in the demand for cable TV service. C) There is a decrease in the supply of cable TV service. D) There is an increase in the supply of cable TV service.
Refer to Figure 5-10. One way to obtain the economically efficient amount of chicken pox vaccinations is for governments to subsidize these vaccinations
What is the size of the per-vaccination Pigovian subsidy that the government must provide to internalize the external benefits? A) (PE - PF) B) PE C) (PF - PG) D) (PE - PG)