When the government privatizes a common resource, it does all of the following except:
A. forces the owner to consider all the costs and benefits of their consumption choices.
B. creates excludability.
C. increases efficiency.
D. increases undesirable side effects.
D. increases undesirable side effects.
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All else constant, as the barriers to entry into a particular market increase, so will the ability of firms in that market to earn above-average profits
Indicate whether the statement is true or false
What condition(s) must exist to make trade among nations mutually beneficial?
a. Nations must have the same opportunity costs of production. b. Nations must not impose tariffs or quotas. c. Nations must be equally efficient at producing a traded good. d. Nations must have an absolute advantage in the production of a good. e. Nations must have a comparative advantage in the production of a good.