Use to following graph. Suppose Asarta Inc. is polluting yucko and they have been tasked with cleaning up some of their waste. If they are cleaning up Q tons of yucko then they are cleaning:

A. too little.
B. too much.
C. just the right amount.
D. the allocatively efficient amount.


Answer: B

Economics

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When the Gizmo Company could sell a gizmo for $10, it produced 2,500 per month. More recently, the price of a gizmo has fallen to $9 and so Gizmo is only producing 2,000 units per month. What is the price elasticity of supply for gizmos?

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