Average total costs are
A) total costs divided by total output.
B) total output divided by total costs.
C) the change in total costs divided by the change in output.
D) the change in output divided by the change in total costs.
A
Economics
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What is the free-rider problem? Why do free riders make the private provision of a public good inefficient?
What will be an ideal response?
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The demand for Dell laptops is more price elastic than the demand for laptops as a whole. This can be best explained by the fact that
a. There are fewer substitutes for Dell laptops than for laptops as whole b. There are more substitutes for Dell laptops than for laptops as whole c. Dell laptops are luxurious goods d. Dell laptops are a necessity
Economics