What's another term for "positive externality"?
A) Negative externality
B) Spillover cost
C) Spillover benefit
D) The "pay-as-you-go" principle
C
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Which of the following relationships exists in first-degree price discrimination?
A. D=MR B. MR=ATC C. MC=ATC D. D=MC
The optimal amount of air pollution is
A) found by equating the marginal benefits from reducing pollution by one more unit with the marginal costs of reducing pollution by an additional unit. B) found by equating the total benefits from reducing pollution by one more unit with the total costs of reducing pollution by an additional unit. C) found by setting the marginal benefits from reducing pollution by one more unit equal to zero. D) a meaningless concept since we cannot monetize the environment.
In the 1970s, the U.S. inflation rate reached about
a. 7 percent per year. b. 10 percent per year. c. 14 percent per year. d. 20 percent per year.
A horizontal long-run average cost curve indicates
A) constant returns to scale. B) diseconomies of scale. C) constant marginal physical product. D) economies of scale.