Good is used and to restrict others from using that good

Assignment Help Business Economics
Reference no: EM131009860

The owner of a good has the right to decide how that good is used and to restrict others from using that good. This idea is known as:

a. the principle of comparative advantage.

b. the law of demand.

c. the principle of mutual excludability.

d. the principle of negative externalities.

e. the principle of public ownership.

Reference no: EM131009860

Questions Cloud

Upgrading and switching to the labor-intensive process : In evaluating projects, LeadTech’s engineers use a rate of 15%. One year ago a robotic-transfer machine was installed at a cost of $38,000. At the time, a 10-year life was estimated, but the machine has had a downtime rate of 28%, which is unacceptab..
Supply and demand as well as demand and supply elasticity : In reference to supply and demand as well as demand and supply elasticity. What did you learn? Why is it important? How do the Economics concepts we just covered impact the economy, you and your family, your friends and your employer?
Define market efficiency and volatility : Market equilibrium. How is equilibrium established? Define market efficiency and volatility?
Determine the opportunity cost of additional production : Use the table to answer questions. Using the table provided in Step 1, answer the following questions in a one-page (250-word) document: Determine the opportunity cost of additional production at different outputs. Determine which particular combinat..
Good is used and to restrict others from using that good : The owner of a good has the right to decide how that good is used and to restrict others from using that good. This idea is known as:
Lead to switching to a different marketing channel : Choose a firm that sells their products through more than one channel of distribution. (For example, Miller beer is sold through grocery stores, convenience stores, liquor stores, restaurants, bars, and stadiums—each is a different channel.) Address ..
How do properties leverage the unique qualities of the web : What is the common thread that links together most of the IAC/InterActiveCorp Web properties? How do the properties leverage the unique qualities of the Web?
What institutional barriers prevented amazon from flexing : What are Amazon’s firm-specific resources and capabilities in the United States and Japan? What institutional barriers prevented Amazon from flexing its muscle in Japan initially?
Cooperate to deliver superior value to the customer : What are some of the ways in which Barry Diller’s e-commerce online companies could cooperate to deliver superior value to the customer?

Reviews

Write a Review

Business Economics Questions & Answers

  Indentify one group that would benefit from deflation

Indentify one group that would benefit from deflation and that would lose. explain why each group would gain or lose from deflation.

  Initial consumer equilibrium position

Suppose that, from an initial consumer equilibrium position, the price of one good falls while the price of the other good remains the same. Using indifference curve analysis, explain how and why the consumer's relative consumption of the two goods w..

  Are monopolies and oligopolies

Are monopolies and oligopolies (firms demonstrating power) always bad for society?

  What was the constant dollar percent increase in gdp

In 1988 the US gross domestic product (GDP) increased to $4.90 trillion at year end, from the 1987 year end level of 4.54 trillion in actual escalated dollar values. In the same year, the consumer price index rose approximately 4%. What was the const..

  Federal reserve board of governors remain independent

Should the Federal Reserve Board of Governors remain independent. Illustrate what is the strongest argument on either side

  What is the estimated cost of the new laboratory

A biotech firm is considering abandoning its old plant, built 23 years ago, and constructing a new facility that has 50% more square footage. The original cost of the old facility was $300,000, and its capacity in terms of standardized production uni..

  Advise steve whether he will able to rely upon his policy

Advise Steve whether he will able to rely upon his insurance policy. Support your answer with relevant cases and legislation.

  Minnesota is known for top-quality medical care

Demand graph to assist in explaining the increase in the price of chain saws after Hurricane Andrew. The mayo clinic in Minnesota is known for top-quality medical care.

  Is there a difference between the two communities

Which lawyer would you sooner choose if you were on trial for a serious crime in a urban vs. a rural society. Is there a difference between the two communities? If there is tell us why there might be a difference.

  What is the effective interest rate of an investment

What is the effective interest rate of an investment if the nominal annual interest rate is 4.67% and it is compounded semi-annually? Express your answer as a percent to two decimal places.

  What level of output is his total revenue maximized

A monopolist faces the inverse demand curve p = 64 - 2q. At what level of output is his total revenue maximized?

  Short run aggregate supply curve

Recessions can be caused either due to leftward shift in the aggregate demand (AD) curve or leftward shift in the short run aggregate supply (SRAS) curve.  Compare changes in the price level for are cession resulting from a shift in the AD to that of..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd