Author Question: Resource owners supply resources in ways that a. maximize their utility b. maximize their income ... (Read 90 times)

lbcchick · **on:** Jun 30, 2018

Resource owners supply resources in ways that
a. maximize their utility
b. maximize their income
c. minimize the amount of work
d. maximize the amount of work
e. maximize the demand for their resource

Question 2

Suppose that the city builds a new park that is advertised as being open to the public, and within two months the grass in the park is ruined by overuse. This would be an example of
a. a nonrenewable resource
b. a private good
c. the common pool problem
d. a positive externality
e. a renewable and excludable resource