Fred has decided to buy a burger and fries at a restaurant, but is considering whether to buy a drink as well. If the price of a burger is $3, fries are $2, and drinks are $1, but a value meal with all three costs $4.80, the marginal cost to Ted of the drink is:

The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound, the total exports of cherries from the United States to other nations equals

A) 200,000 pounds. B) 400,000 pounds. C) 600,000 pounds. D) 800,000 pounds. E) 0 pounds.

The good for which neither the principle of mutual excludability nor the principle of rivalry applies is referred to as a:

a. public good. b. commons good. c. club good. d. normal good. e. private good.