Which of the following would not be considered a private good?
a. a pair of scissors
b. a pair of shoes
c. an SUV
d. cable TV service
d
Economics
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If a firm produces 10 units, TC=$100 . When the firm increase its output to 15 units, TC= $150 . The firm's variable costs equal to
a. $50 b. $150 c. $25 d. $100
Economics
Individual profit earned by Dave, the oligopolist, depends on which of the following? (i) The quantity of output that Dave produces (ii) The quantities of output that the other firms in the market produce (iii) The extent of collusion between Dave and the other firms in the market
a. (i) and (ii) b. (ii) and (iii) c. (iii) only d. (i), (ii), and (iii)
Economics