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Once a common resource is available for consumption, policymakers need to be concerned with

Once a common resource is available for consumption, policymakers need to be concerned with

Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 6QR
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Question
Once a common resource is available for consumption, policymakers need to be concerned with Select one: a. implementing a natural monopoly tax to pay for the good. O b. determining the total quantity that will be consumed. O c. finding a private firm to take over the production of the good. O d. making sure everyone gets a fair chance to consume it.
Transcribed Image Text:Once a common resource is available for consumption, policymakers need to be concerned with Select one: a. implementing a natural monopoly tax to pay for the good. O b. determining the total quantity that will be consumed. O c. finding a private firm to take over the production of the good. O d. making sure everyone gets a fair chance to consume it.
If the price floor is NOT binding, then Select one: a. it is below the free market equilibrium price. b. there is excess demand in the market. O c. there is excess supply in the market. d. it is above the free market equilibrium price.
Transcribed Image Text:If the price floor is NOT binding, then Select one: a. it is below the free market equilibrium price. b. there is excess demand in the market. O c. there is excess supply in the market. d. it is above the free market equilibrium price.
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