A monopoly sells 5 units of output at $20. If the MR of the 6th unit is $14, then the price of the 6th unit is
A) also $14.
B) $17.
C) greater than $20.
D) $19.
D
Economics
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Today, the earth has ________ of all of the species that have ever lived
A) less than 1 percent B) about 50 percent C) about 99 percent D) 100 percent
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What causes the Tragedy of the Commons? (i) Social and private incentives differ. (ii) Common resources are not rival in consumption and are not excludable. (iii) Common resources are not excludable but are rival in consumption
a. (i) only b. (ii) only c. (i) and (ii) only d. (i) and (iii) only
Economics