Three friends stay in an apartment. Their landlord offers to air-condition the apartment if they pay for the installation charges. Although they all want an air-conditioner, none of them say so. This is an example of the ________

A price ceiling set below the equilibrium price ________ search activity and ________ the use of black markets

A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases

A characteristic of a public good is

A) rival consumption. B) the exclusion principle. C) the free-rider problem. D) clear property rights.