Endangered species are likely to be
A) private property.
B) common property.
C) both private and common property.
D) neither private nor common property.
Answer: B
Economics
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In a bilateral monopoly, equilibrium price will
A) favor the seller. B) favor the buyer. C) approximate the competitive equilibrium price. D) not be determined by a simple rule.
Economics
If all the return to a resource is economic rent, we know that
A) the price of the resource is below its opportunity cost. B) the price of the resource equals its opportunity cost. C) the price of the resource is above its opportunity cost. D) the resource has no opportunity cost.
Economics