A guarded barbed wire fence separates East and West Bovinia. Soccer players are paid twice as much in West Bovinia as in East Bovinia. This is an example of
a. inelastic supply
b. a temporary resource price differential
c. a permanent resource price differential
d. diminishing marginal revenue product
e. economic rent
Question 2
Depletion of tropical rainforests is an example of
a. a negative externality
b. the use of variable technology
c. adverse selection
d. the use of fixed technology
e. a clearly defined property right
The Asiatic lion, whose habitat once ranged from the Mediterranean to north-west Indian subcontinent
Midway Island, an inhospitable atoll acquired in 1867, was valuable as a military base located midwa
The Middle East and Operation Desert Storm
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A culex tarsalis mosquito, a common vector of the spread of West Nile virus.