A professional hockey franchise is trying to assemble a parcel of land to build an arena. There is one vacant warehouse on the land the franchise needs. In this case,
A) eminent domain will reduce transactions costs and make a pie-increasing arena possible.
B) eminent domain will reduce the likelihood of holdouts and make a pie-increasing arena possible.
C) eminent domain is not called for as the land can probably be acquired more efficiently through bargaining.
D) Both A and B are correct.
C
Economics
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The price of cabbage rises from $0.20 per pound to $0.30 per pound. The quantity of cabbage demanded falls from 800 pounds per week to 600 pounds per week. Use the midpoint formula to calculate the price elasticity of demand for cabbage
Is the demand elastic, inelastic, or unit elastic?
Economics
In the long run, AS is vertical.
a. true b. false
Economics