Common property rights
A) increase efficiency over individual property rights.
B) enable the Coase theorem to work.
C) are responsible for the increasing success of preservation of African elephants.
D) are responsible for the increasing success of preservation of worldwide fishing resources.
E) result in faster depletion of resources than do individual property rights.
E
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An industry analyst observes that in response to a small increase in price, a competitive firm's output sometimes rises a little and sometimes a lot. The best explanation for this finding is that
A) the firm's marginal cost curve is random. B) the firm's marginal cost curve has a very small positive slope. C) the firm's marginal cost has a very large positive slope. D) the firm's marginal cost curve is horizontal for some ranges of output and rises in steps. E) the firm's marginal cost curve is downward sloping.
Demand deposits are: a. assets of banks, liabilities of depositors. b. liabilities of banks, assets of depositors. c. assets of banks and their depositors
d. liabilities of banks and their depositors.