A country has pasture land where cattle are allowed to graze. However, this land is threatened by overgrazing, which can lead to erosion and a reduction in the value of the land. Which of the following solutions is socially optimal?
a. Selling the pasture land to a private buyer and letting him control the grazing time
b. Providing extra security to prevent grazing
c. Using a layer of artificial grass to prevent grazing
d. Constructing fences and allowing grazing only in one part of the pasture land at a time
a
Economics
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Refer to the above table (all figures in millions). Which country experienced the greatest economic growth from 2014 to 2015?
A) A B) B C) C D) D
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If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25, what is its total fixed cost?
a. $650 b. $1,000 c. $200 d. $320
Economics