The economic argument that it is in society's best economic interest to pay for the education of "someone else's child" is the
A. moral obligation argument.
B. positive marginal benefit argument.
C. positive externalities argument.
D. positive marginal cost argument.
Answer: C
Economics
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If P > ATC for a perfectly competitive firm, then
a. the firm could increase profit by lowering its price b. the firm could increase profit by raising its price c. the firm is producing too much output d. the firm is making a profit e. profits are zero in the short run
Economics
When determination of rent is left to the market,
A. that rent price is almost entirely determined by the supply side. B. that price can settle at politically unpopular levels. C. land is fairly distributed among the members of society. D. the supply of land will be perfectly elastic.
Economics