If one person's enjoyment of a good is reduced when another person consumes the good, then the good exhibits
A. an externality.
B. exclusivity.
C. rivalry.
D. a moral loss.
Answer: C
Economics
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A unit tax
A) is based on the value of the good being sold. B) is a constant tax assessed on each unit of a good sold. C) is the primary tax studied in dynamic tax analysis. D) does not influence equilibrium price and quantity.
Economics
Suppose that market demand for a good is Q = 480 - 2p. The marginal cost is MC = 2Q. Calculate the deadweight loss resulting from a monopoly in this market
What will be an ideal response?
Economics