The efficient level of pollution abatement is greater
a. The higher the marginal social benefit of abatement function and the higher the marginal social benefit of abatement function.
b. The higher the marginal social benefit of abatement function and the lower the marginal social benefit of abatement function.
c. The lower the marginal social benefit of abatement function and the higher the marginal social benefit of abatement function.
d. The lower the marginal social benefit of abatement function and the lower the marginal social benefit of abatement function.
b
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Contractors can use plywood or brick to construct walls. Suppose the price of bricks increases. Which of the figures above best illustrates the effect of this change on the market for plywood?
A) Figure A B) Figure B C) Figure C D) Figure D E) Figure A or Figure C depending on how contractors react to the higher price of bricks.
Data Driven Decision Making Kroger Groceries provides store managers flexibility to determine prices for a number of popular items they carry because demand is affected primarily by local conditions that managers are more aware of. To make sure managers
use this discretion wisely, managers are rewarded with bonuses based on quarterly sales. With improvements in data collection and analysis, the "quants" in corporate headquarters can run many small experiments. Doing so allows them to understand nuanced patterns in consumer demand that had been un-noticed previously. How does this affect manager compensation?
Which of the following is true regarding bonds? a. Other things equal, bondholders have greater financial security than stockholders. b. The possibility of a bond's value increasing greatly is limited compared to stocks. c. The legal obligation to bondholders is of higher priority than that of stockholders. d. Higher market interest rates represent a risk to bondholders
e. all of the above
Exhibit 21-4 Coffee and tea output (pounds per hour) CountryCoffee Tea Brazil10 5 China 8 8 As shown in Exhibit 21-4, if each country produced according to its comparative advantage, Brazil would produce:
A. tea and China would produce coffee. B. coffee and China would produce tea. C. both coffee and tea. D. neither coffee nor tea.