The possibility that someone can reap the benefits of being a free rider occurs
a. when negative externalities exist in the market
b. only when the market is in equilibrium
c. when positive externalities exist in the market
d. only if government is willing to subsidize the market
e. only if government actually produces the good, such as a highway
C
Economics
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When a city licenses only 3 taxi firms to serve the market, the city has created a
A) cartel. B) legal monopoly. C) monopolistically competitive market. D) legal oligopoly. E) natural oligopoly.
Economics
If checkable deposits rise, it follows that the
A) required reserve ratio will fall. B) dollar amount of reserves will rise. C) dollar amount of vault cash will rise. D) required reserve ratio will rise. E) none of the above
Economics