A good is excludable when a person can be prevented from using it.

Acompetitive market in healthcare would a. overprovide healthcare because the marginal social benefit of healthcare exceeds the marginal benefit perceived by consumers b. underprovide healthcare because it would eliminate medicare and medicaid c. underprovide healthcare because the marginal social benefit of healthcare exceeds the marginal benefit perceived by consumers d. overprovide healthcare because it would be similar to the approach used in canada

What could cause a production possibilities curve to move down and to the left? a.) a nation loses land after being defeated in a war. b.) an increase in the use of computer technology speeds up production c.) a baby boom 20 years ago results in a large number of young adults in the population today. d.) thousands of investors from overseas invest money in a nations economy.

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?