Which of the following is a public good?
a. An economics lecture.
b. A television set.
c. Higher education.
d. Housing.
e. Clean air
e
Economics
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Suppose a buyer hires an interpreter who charges $5 to negotiate a deal with a seller. The buyer's valuation of the good is $50 and the seller's opportunity cost is $35 . If the net benefit to the buyer is equal to the same received by the seller, what is the price agreed upon by the two parties?
a. $42 b. $40 c. $44 d. $38
Economics
Which of the following is a characteristic of oligopoly?
A) mutual firm independence B) zero economic profits in the short run C) marginal cost pricing D) only a few firms in the industry
Economics