Describe tragedy of the commons and explain 3 examples.

Firms use marginal analysis to determine prices by a) changing prices in accordance with information from retailers. b) using comparisons with strong competitors to position prices accordingly. c) examining the effect on revenue of small changes to the price of one item. d) trying to minimize production costs by using better and more efficient methods.

With my drivers ed in the decision-making cycle, to decide means to a. carry out an action that has been decided b. estimate if an identified hazard will affect the driver c. pick a course of action d. pick a scanning routine

What will happen to a firms profit maximizing quantity in the short run if there is a significant increase in rent