Highway traffic is a mixed good because
a. some people like it and others do not
b. drivers creates costs that are borne by other drivers
c. it is not free of charge
d. because highways are rivalrous, but not easily excludable
e. because highways are excludable, but not easily rival
D
Economics
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The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $6 per hour, how many hours of students' labor are unemployed?
A) 12,000 hours B) 9,000 hours C) 6,000 hours D) 0 hours
Economics
Explain the "tragedy of commons."
What will be an ideal response?
Economics