National defense is an example of a ________.
A) public good
B) natural monopoly good
C) common resource
D) private good
Question 2
The table above shows output and costs of Evan's Subs, a typical perfectly competitive firm in a local market for sandwiches. Evan's fixed cost is 9 per hour. The current market price of a sandwich is 6. What is Evan's shut-down price?
A) 6 per sandwich
B) 4 per sandwich
C) 3 per sandwich
D) 5 per sandwich