This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A cost that arises from the production of a good that is paid by someone who did not participate in ... (Read 127 times)

JMatthes

  • Hero Member
  • *****
  • Posts: 578
on: Jun 29, 2018
A cost that arises from the production of a good that is paid by someone who did not participate in the production is called
 
  A) a free rider.
  B) an externality.
  C) rent seeking.
  D) a public failure.

Question 2

If the market price of a perfectly competitive firm's product is below its average variable cost, then the firm's
 
  A) marginal revenue is zero.
  B) total revenue is as large as possible.
  C) total revenue if it stayed open would be less than its total variable costs.
  D) total revenue if it stayed open is less than its total cost but greater than its total fixed costs.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lorealeza77

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


JMatthes

  • Hero Member
  • *****
  • Posts: 578
Reply #2 on: Jun 29, 2018
Thank you


lorealeza77

  • Sr. Member
  • ****
  • Posts: 356
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

The Punnett square demonstrates how the F2 ratio arises from an F1 x F1 cross. The Punnett square demonstrates how the F2 ratio arises from an F1 x F1 cross.
Are good deeds selfish? Are good deeds selfish?
Production of Ethanol process Production of Ethanol process
Kidney beans, steak, and iron-fortified bread and cereal are good sources of iron Kidney beans, steak, and iron-fortified bread and cereal are good sources of iron
Cost Accounting 14 Cost Accounting 14
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
Video: Erythropoietin (EPO)

For a complete list of videos, visit our video library