John paints the exterior of his house and, as a result, his neighbor Christine is able to sell her home for $5,000 more than she could have before. John's house painting:
a. creates a negative externality for Christine.
b. shows John is a free rider.
c. results in an efficient market outcome for both.
d. creates a positive externality for Christine.
e. was poorly done.
d
Economics
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When the euro falls in value relative to other currencies, then
A) goods imported into Europe rise in price. B) European exports rise in price. C) neither European exports nor imports rise in price. D) both European exports and imports rise in price.
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A market structure in which there is one large firm that has a major share of the market and many smaller firms supplying the remainder of the market is called:
A) the Stackelberg Model. B) the kinked demand curve model. C) the dominant firm model. D) the Cournot model. E) the Bertrand model.
Economics