If a good is congestible, then _____
a. the optimal sharing group is a the national level
b. the optimal club size is where marginal reduction in cost per user is minimized
c. some congestion is optimal
d. marginal costs are constant for any possible output level
c
Economics
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A supply curve that is parallel to the horizontal axis suggests that:
A. the industry is organized monopolistically. B. the relationship between price and quantity supplied is inverse. C. a change in demand will change price in the same direction. D. a change in demand will change the equilibrium quantity but not price.
Economics
The term marginal means
A) total. B) average. C) subjective. D) additional.
Economics