"The optimal level of pollution is zero." Do you agree or disagree? Why?
What will be an ideal response?
Disagree. There are costs to cleaning up pollution. Therefore, the optimal level of pollution arises at the point at which the marginal benefit from further reducing pollution equals the marginal cost of further reducing pollution.
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The legal responsibility for losses incurred by a proprietorship falls upon the
A) stockholders. B) partners. C) owner. D) creditors.
Describe the structure-conduct-performance (S-C-P) paradigm
What will be an ideal response?
The opportunity cost of holding money
A. is zero because money is not an economic resource. B. varies inversely with the interest rate. C. varies directly with the interest rate. D. varies inversely with the level of national income.
To be counted in the labor force
A. a person has to be at least 16 or older, have a job, or if unemployed has to be actively seeking employment. B. a person has to be working at least 10 hours per week. C. a person has to be over 16 years of age, irrespective of whether she or he is actively seeking work. D. a person, irrespective of his or her age, has to be working or, if out of work, actively seeking employment.