Suppose the city of austin, tx chooses to regulate the number of street vendors operating near the university of texas by requiring each vendor to own a permit in order to operate. the city gives free permits to all existing vendors and announces that no new permits will ever be issued. prior to regulation, the costs (including implicit costs) of operating were $85,000 and revenues were $150,000. the city ordinance allows the permits to be bought and sold without restriction. the permits have no expiration date. the interest rate is 10 percent. after regulation, existing street vendors earn an

a. accounting profit of zero.

b. economic profit of $130,000.

c. economic rent of $65,000

d. economic loss.

i believe the answer is: streets and roads

public property refers to the property that can be used by all legal citizens in a certain country. the public property was created and maintain using the government budget that allocated specifically for it. the budget itself come from the citizen's income tax payment.

you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.