Which of the following is an example of lower production costs brought about by the use of technology?
a) the delivery costs of gasoline to the consumer by diesel trucks
b) the use of e-mail to replace slower surface mail
c) the making of breads and pastries in local shops rather than large bakeries
d) the importing of fresh vegetables from South America rather than using canned vegetables
Ans: b) the use of e-mail to replace slower surface mail
Economics
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Refer to Common Property II. If the common property is privately owned, the owner earns revenue equal to
a. Area C + D. b. Area F + G. c. Area C + D + F + G. d. zero.
Economics
Prof. Epstein's normative theory of law argues that the common law ought to
a. promote a more desirable distribution of income. b. impose punitive damages more often. c. seek economic efficiency. d. promote the Good Samaritan ethic.
Economics