If coal-burning electrical utility companies fully internalized pollution costs, then we could expect
A) an increase in electricity prices.
B) a decrease in electricity prices.
C) no change in electricity prices.
D) a greater use of coal to produce electricity.
A
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Answer the following statement(s) true (T) or false (F)
1. On average over all goods, it has been found that as people become wealthier, expenditures for higher quality grow more rapidly than expenditures for increased quantity. 2. The cross elasticity between California and Florida oranges is likely to be negative because they are substitutes for one another. 3. If the cross price elasticity of demand is negative, then the two goods under consideration must be complements. 4. If the cross-price elasticity for oranges with respect to apples is 1.2 and the price of apples increase by 5%, then we can expect the quantity demanded of oranges to decrease by 6%.
Compared to perfect competition, a monopolistically competitive market will produce ________ output and charge a ________ price
A) more; higher B) more; lower C) less; higher D) less; lower
If the marginal factor cost is greater than the marginal revenue product of a resource, the producer can increase profits by laying off some units of the resource
a. True b. False Indicate whether the statement is true or false
Disposable income is best defined as
a. income adjusted for inflation b. nominal income c. the income remaining after bills have been paid d. income after taxes have been paid and transfers received e. income paid in dollars that are worthless