Consumers value the product-specific services for a new smartphone at $20 and the marginal cost to the retailers for providing the product-specific services is $20. From the manufacturer's perspective, a resale price maintenance agreement ________ be successful as it will ________ the equilibrium quantity sold.

What does a point inside the curve of a PPC indicate?

a. all resources are fully employed b. not all resources are fully employed c. employees are stealing d. workers have sabotaged machinery

Which of the following is not an example of an externality?

a. Drunk drivers raise everyone's auto insurance premiums. b. The price of lumber increases as lumberjacks' wages increase. c. The neighbor's beautiful front yard increases your home value. d. Someone drives a car that emits thick black smoke. e. People who live near a bakery enjoy the smell of freshly baked bread.