The optimal amount of pollution abatement is such that
A) the total benefit of reducing pollution is equal to the total cost of reducing pollution.
B) the marginal private cost of reducing pollution is just equal to the profit of the polluting firms.
C) there is no remaining pollution.
D) the marginal social cost of reducing pollution is just equal to the marginal social benefits from doing so.
E) none of the above; there is no optimal amount of pollution abatement.
Ans: D) the marginal social cost of reducing pollution is just equal to the marginal social benefits from doing so.
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If you go to the bank and notice that a dollar buys more Mexican pesos than it used to, then the dollar has
a. appreciated. Other things the same, the appreciation would make you less likely to travel to Mexico. b. appreciated. Other things the same, the appreciation would make you more likely to travel to Mexico. c. depreciated. Other things the same, the depreciation would make you less likely to travel to Mexico. d. depreciated. Other things the same, the depreciation would make you more likely to travel to Mexico.
“Market forces” consist of ______.
a. government agencies b. thousands of consumers c. thousands of producers and government agencies d. millions of producers and consumers
Use the indifference curves and the budget lines in Figure 19.3 to answer the indicated question. Assume the price of Y is $1 per unit. If the price per unit of good X is $1, the optimal consumption is found at point
A. D. B. E. C. C. D. B
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A. B. C to D. C. B to D. D. A to C.