Which of the following goods is both excludable and rival in consumption?

a. a wristwatch
b. fire protection in a small town
c. fish in the ocean
d. efforts to fight poverty

a

Economics

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The table above shows some data that describe Tom's T-Shirts' total product when Tom has 1 sewing machine

An increase in the number of workers from 1 to 2 a day increases average product of labor from ________ T shirts per worker and marginal product of labor is ________ T shirts per worker. A) 10 to 11; 22 B) 10 to 22; 12 C) 10 to 22; 22 D) 10 to 11; 12

Economics

During the mid-2000s, the average price of a used car fell by nearly $500 and the quantity sold nation-wide decreased by several thousands each year. This set of results is a contradiction of the law of demand

Indicate whether the statement is true or false

Economics