The following questions are about three moving companies. 

Provide an explanation for why you chose rival or non-rival; and excludable or non-excludable for information on a school’s website.  Your explanation should incorporate the good or service and not simply restate a definition.

Articles and Videos Select and answer only one question from the following: How did women spending affect the world economy in 2023? What problem did state lawmakers face when dealing with marshmallows? Why? What are some unintended consequences of The Club? Did it solve the problem? What kind of cars form the majority of purchases in Norway? What incentives did the country offer?

Categorize the following items as rival or non-rival; and excludable or non-excludable. Information on a school’s website is and . 

The figure shows the market for three moving companies in a small town. Complete the table. Alt Text: moving companies Moving companies   Competitive Outcome Non-competitive (Monopoly) outcome Price Pcomp:  PM: Quantity Q comp: QM: Consumer Surplus   DWL

An airline selling lower priced tickets when a consumer purchases at least one month before the travel date would be an example of ____________ price discrimination. 

Items for which buyers have strong preferences typically have an  demand. We should expect total revenue to as price increases.

The following questions are about perfectly competitive firms. 

Use the data below to compute the marginal product of labor in Larry’s Lawnmower Company.  Larry’s Lawn mowing Quantity of Labor (workers) Total Product (lawns mowed per day) Marginal Product of Labor (MPL) 0 0 — 1 3 2 8 3 15 4 20 5 21 Write down your answers, you will need them for the next question.

The figure represents a restaurant operating in monopolistic competition. Alt Text: meals at a restaurant The firm’s efficient scale occurs at meals per day. Therefore the firm have excess capacity of meals per day.