A new chemical component is discovered with amazing properties which however is so toxic that it can not be commercially exploited for the foreseeable future. Is this an example of Creative Destruction?   a. Yes.   b. It depends on the market conditions.   c. Impossible to say.   d. No.

Three college students are considering operating a tutoring business in economics. This business would require that they give up their current jobs at the student recreation center, which pays $6,000 per year. A fully equipped facility can be leased at a cost of $8,000 per year. Additional costs are $1,000 a year for insurance and $.50 per person per hour for materials and supplies. Their services would be priced at $10 per hour per person. a. What are fixed costs? b. What are variable costs? c. What is the marginal cost? d. How many student hours would it take to break even ?

All but WHICH one of the following is a condition for a successful water market?  Group of answer choices A. Water must be physically transferable B. A system must be in place to resolve conflicts C. Property rights must be clearly defined D. Transaction costs must be relatively high

To properly protect consumers, _____. a. tests of a product can safely assume that the product will be used in just the way that the manufacturer intends it to be used. b. if a product poses a potential, serious threat, a company may need to take extraordinary measures to ensure continued safe use of it. c. only new products, not established products, need to be tested. d. accidents occur exclusively as a result of product misuse.

Need some help! Really don't understand economics.