Property rights are well established for
a. private goods.
b. public goods.
c. common resources.
d. both (b) and (c).
a
Economics
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Describe some of the external benefits associated with education. What can government do to encourage production of the efficient amount of education?
What will be an ideal response?
Economics
If a perfectly competitive firm in the short run is producing where P = ATC = MC, this firm is
A) incurring losses. B) earning economic profits. C) obliged to shut down. D) on the downward-sloping portion of its demand curve. E) at its profit-maximizing output level.
Economics