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Author Question: A cost that arises from the production of a good that is paid by someone who did not participate in ... (Read 157 times)

JMatthes

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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.


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lorealeza77

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


JMatthes

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Reply #2 on: Jun 29, 2018
Thank you


lorealeza77

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Reply #3 on: Jun 29, 2018
No problemo


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