Consumption of the good by one person decreases the ability of other people to consume the good. consumption of the good by one person does not decrease the ability of other people to consume the good. it is not possible to prevent an individual from using the good the satisfaction derived from consuming the good is affected by the price a consumer pays for the good. those who are unwilling or unable to pay for the good do not obtain its benefits.

According to herman, one of the differences of managing a nonprofit versus a for-profit corporation is

Helen tells her nephew, bernard, that she will pay him $100 if he will stop smoking for six months. helen was hopeful that if bernard stopped smoking for six months, he would stop altogether. bernard stops smoking for six months but then resumes his smoking. helen will not pay him. she says that the type of promise she made cannot constitute a binding contract and that, furthermore, it was at least implied that he would stop smoking for good. can bernard legally collect $100 from helen

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold