In economics, what is the meaning of the phrase 'the tragedy of the commons?' Goods that are not rivalrous but are excludable are under‐produced by private markets, often with consequences that reduce social welfare. People will overuse or misuse a common resource that is not excludable but is rivalrous. It serves the common good to produce items that are neither rivalrous nor excludable, but profit‑maximizing firms will not produce such products. In market economies products are often similar and common, so the government must actively attempt to create variety in goods and services. In decisions involving intellectual property rights, policy-makers must compromise in order to reach common ground among competing interest groups.

Suppose that kenji, an economist from an am talk radio program, and lucia, an economist from a school of industrial relations, are arguing over health insurance. the following dialogue shows an excerpt from their debate: lucia: a popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. kenji: i think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese. lucia: i disagree. i think government funding of health insurance is useful to ensure basic fairness. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? lawyers make up an excessive percentage of elected officials. minimum wage laws do more to harm low-skilled workers than them. tariffs and import quotas generally reduce economic welfare.

Social computing forces companies to deal with customers as opposed to

Consider a treasury bill with a rate of return of 5% and the following risky securities: security a: e(r) = .15; variance = .0400 security b: e(r) = .10; variance = .0225 security c: e(r) = .12; variance = .1000 security d: e(r) = .13; variance = .0625 the investor must develop a complete portfolio by combining the risk-free asset with one of the securities mentioned above. the security the investor should choose as part of her complete portfolio to achieve the best cal would be a. security a b. security b c. security c d. security d