An example of a public good is
A. a grocery store.
B. a ticket to a baseball game.
C. a hardwood forest in a national park.
D. an orange grove.
Answer: C
Economics
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The Coase theorem states that if transaction costs are low, the number of parties is small, and property rights are well established
A) the government must intervene to eliminate any externalities in the market. B) private transactions are efficient. C) there will be no pollution. D) Both answers B and C are correct.
Economics
Opportunity costs arise from
A) choices. B) taxes. C) mistakes. D) regrets.
Economics