More on Externalities, Competition and Monopoly, Labor Markets, and Public Goods
Question 11 pts
A pigouvian tax is
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Question 61 pts
Economic profit and accounting profit are always equal to each other.
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Question 161 pts
A monopolist faces an inelastic demand for his product. Entrepreneurs produce substitutes for the good. The demand for the good is now elastic, therefore
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Question 191 pts
Under monopolistic (normal) competition what can create monopoly power? Multiple answers possible.
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Question 221 pts
When labor is paid a higher wage due to the riskiness of a job, we call that
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Question 251 pts
A tragedy of the commons is when everyone owns something or no one owns it, thus it is