The marginal cost to society of reducing pollution increases with the increased use of pollution abatement because
A) of the diminishing marginal utility of abatement.
B) of the reduced demand for abatement.
C) of the diminishing returns from abatement.
D) of the high cost of abatement.
C
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Which of the following properties hold true for the equilibrium price-quantity combination?
a. Buyers who are willing to pay higher than the equilibrium price do not find sellers. b. At the equilibrium price producer surplus equals consumer surplus. c. The equilibrium output is produced at the lowest avoidable cost. d. The equilibrium output is produced at the lowest opportunity cost.
An increase in demand deposits would ____ M1 and ____ M2. a. increase; increase
b. not change; increase. c. decrease; decrease. d. not change; decrease.
How can nations fix their exchange rates?
a. Either by imposing strict exchange controls or by setting interest rates at the same level as the country with which they want to fix the exchange rate. b. Either by imposing strict exchange controls or by keeping inflation at the same rate as the country with which they want to fix the exchange rate. c. Nominal exchange rates cannot be fixed. d. Either by imposing strict exchange controls or by obligating the central bank to intervene in the foreign exchange market to keep the exchange rate at its chosen rate. e. Either by keeping inflation at the same rate or by setting interest rates at the same level as the country with which they want to fix the exchange rate.
If the price of Snickers candy bars fall 10% and quantity demanded rises by 11%, demand is _________.
Fill in the blank(s) with the appropriate word(s).