Which of the following is the BEST example of a common resource?

Which of the following is the BEST example of a common resource?
 
  A) a can of Mountain Dew
  B) fish in the ocean
  C) cable television
  D) national defense

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Ques. 2

Consider the perfectly competitive firm in the above figure. The profit maximizing level of output for the firm is equal to
 
  A) 0 units.
  B) 14 units.
  C) 17 units.
  D) 19 units.

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Ques. 3

If an increase in x (the variable on the horizontal axis) from 6 to 8 units causes a decrease in y (the variable on the vertical axis) from 4 to 3 units, the slope equals
 
  A) 2.
  B) -2.
  C) 1/2.
  D) -1/2.

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Ques. 4

Economic growth in India has averaged about 8.5 percent in recent years and while inflation averaged almost 9 percent. The AS-AD model shows this process as
 
  A) rightward shifts in the short-run aggregate supply curve.
  B) rightward shifts in the both the aggregate demand and long-run aggregate supply curves.
  C) movements upward along the aggregate demand curve.
  D) rightward shifts in the aggregate demand curve and leftward shifts in the short-run aggregate supply curve.

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Ques. 5

In monopolistic competition, a firm must determine what price to set for its good because
 
  A) the demand for its good is not perfectly elastic.
  B) the demand for its good is perfectly elastic.
  C) there are many buyers.
  D) there are many sellers.

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Ques. 6

Given the data in the above table, income of 13, a price of 1 for a bottle of water and 2.00 for a hamburger, what is the marginal utility per dollar spent on the fifth hamburger?
 
  A) 10 units of utility
  B) 8 units of utility
  C) 6 units of utility
  D) 4 units of utility