The free-rider problem exists because it is difficult to ______.
a. share the benefits of some products with everyone
b. prevent everyone from gaining the benefits of some products
c. produce products that satisfy everyone
d. produce products that satisfy anyone
b. prevent everyone from gaining the benefits of some products
Economics
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The above figure shows Dana's marginal benefit curve for ice cream. If the market price is $2 per gallon, then Dana's consumer surplus from the 4th gallon of ice cream is
A) $0. B) $2. C) $3. D) $10.
Economics
Refer to Table 4-3. The table above lists the marginal cost of cowboy hats by The Waco Kid, a firm that specializes in producing western wear. If the market price of cowboy hats is $50, producer surplus is
A) $0. B) $4. C) $62. D) $138.
Economics