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Question
Refer to the above figure. If the marginal cost curve for pollution abatement shifts to the right, everything considered, the
A) degree of air quality or cleanliness will also decrease.
B) the degree of air quality or cleanliness will stay unchanged.
C) the degree of air quality will improve.
D) the marginal cost of pollution abatement has nothing to do with air quality.
Answer
This answer is hidden. It contains 1 characters.
Related questions
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When John earned $65,000 he purchased 10 DVDs a year. His income has just increased to $68,000 and he plans to purchase 15 DVDs this year. Johnʹs income elasticity of demand equalsA) 0 B) 0.11 C) 1.67 D) 8.87
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The regulation of the prices charged by insurance companies is known asA) the Federal Register. B) social regulation.C) the market share test. D) economic regulation.
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If the marginal product curve is intersecting the average product curve, we know thatA) the average variable cost curve is intersecting the average total cost curve.B) the marginal cost curve is intersecting the average fixed cost curve. C) the average total cost curve lies above the marginal cost curve.D) the marginal cost curve is intersecting the average total cost curve.
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Suppose that the implicit cost for a business was $1,000 and the explicit cost was $5,000 and that the firm sold 1,000 units of its products at $6 per item. We can conclude that the firmʹsA) accounting profit was $6,000, and its economic profit was $0. B) accounting and economic profits were both $0.C) accounting profit was $1,000, and economic profit cannot be determined. D) accounting profit was $1,000, and economic profit was $0.
Q:
Which of the following would cause the labor demand curve to shift to the right?A) A decrease in demand for the product the labor is used to produceB) An increase in labor productivityC) A decrease in the price of a complimentary resourceD) All of the above
Q:
A monopolistic competitor is like a competitive firm in the long run, because
A) it earns positive economic profits.
B) it earns zero economic profits
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Q:
In a perfectly competitive market, if P > MC, then
A) too little output is being produced.
B) too much output is being produced.
C) production is efficient, as the firm is earning profits.
D) the firm is paying a price for resources that is too high.
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Q:
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Q:
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Use the above figure. When the budget line rotates from ʺbʺ to ʺcʺA) the price of product J increases. B) the price of product J decreases. C) the price of product K increases. D) the price of product K decreases.
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Which of the following best describes a situation of economic efficiency?A) A firm produces to the point at which P = AVC, with MR < MC. B) A firm produces to the point at which P = ATC, with MC < MR. C) A firm produces to the point at which MR = AFC, with P = AVC. D) A firm produces to the point at which MR = MC, with P = MC.
Q:
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Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 65 cookies together. What is the average product of the first three workers?A) 65 cookies B) 30 cookies C) 17.5 cookies D) 21.67 cookies
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Q:
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The health care market in the United States is characterized by
A) considerable government involvement.
B) third-party payment of health care costs.
C) asymmetric information between providers and consumers.
D) all of the above
Q:
Why should a perfect competitor produce at which price equals marginal cost?
Q:
Which of the following is a true statement?A) Any property right system will yield a situation in which all externalities are internalized. B) Voluntary agreements can always yield a situation in which all externalities are internalized.C) Opportunity costs always exist with whoever has property rights.D) Opportunity costs turn external costs into social costs.
Q:
ʺThe market demand curve for labor is the horizontal summation of the labor demand curves of all firms.ʺ Do you agree or disagree? Why?
Q:
A monopolist is maximizing profit at an output rate of 1,000 units per month. At this output rate, the price that its customers are willing and able to pay is $8 per unit, average total cost is $5 per unit, and marginal cost is $6 per unit. It may be concluded that at this monthly output rate, marginal revenue isA) $5 per unit, and the monopolist earns zero economic profits.B) $6 per unit, and the monopolist earns economic profits of $2,000 per month. C) $6 per unit, and the monopolist earns economic losses of $1,000 per month. D) $6 per unit, and the monopolist earns economic profits of $3,000 per month.
Q:
Suppose that during a given time period the implicit cost for a business was $1,500 and that the explicit cost was $6,000. Also suppose that the firm sold 1,000 units of its products at $7 per item. We can conclude that the firmʹsA) accounting profit was $1,000, and its economic profit was -$500. B) accounting and economic profits were both $1000.C) accounting profit was -$500, and economic profit was $1,000. D) accounting profit was $1000, and economic profit was -$1,500.
Q:
ʺThe slope of the demand curve gives the elasticity of demand.ʺ Do you agree or disagree?
Why?
Q:
Which of the following type of shops is unlawful under the provisions of the Taft -Hartley Act?A) union shops B) closed shopsC) modified union shops D) open shops