The marginal cost of pollution abatement is graphically illustrated by
A) an upward sloping curve.
B) a downward sloping curve.
C) a horizontal curve.
D) a vertical curve.
Answer: A
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An increase in demand for oil, along with a simultaneous increase in supply of oil, will
A. increase price, but whether it increases quantity depends on how much each curve shifts. B. increase quantity, but whether it increases price depends on how much each curve shifts. C. increase price and decrease quantity. D. decrease price and increase quantity.
For a single-price monopolist,
A) MR = P. B) MR < P. C) MR first increases and then decreases with the quantity sold. D) MR first decreases and then increases with the quantity sold.
One reason the housing bubble occurred is because:
A. the recency effect caused homes to typically be undervalued. B. the herd instinct caused everyone to believe home prices would continue to fall. C. securitization removed much of the risk from the sellers of subprime mortgages. D. All of these statements are true.
Early medieval bankers were similar to modern bankers in that they:
A. would also lend a portion of the deposits. B. were not subject to any regulation. C. could not create money. D. took deposits in gold.