A demand curve is upward sloping because as the price decreases the quantity demanded decreases

The noise inflicted on bystanders by users of chain saws, lawn mowers, and motorcycles is an example of

a. a positive externality b. a public good c. nonexcludability d. marginal private benefit exceeding marginal social benefit e. marginal social cost and the free-rider problem

Vernon was the milkman in his neighborhood for 30 years. Then, supermarkets started selling milk right in the store, and Vernon's job became obsolete. Vernon is a victim of ___________ unemployment.

A. seasonal B. structural C. frictional D. cyclical