The article "A "War on Coal"?" illustrates that
A. The costs of pollution abatement must be balanced against the benefits.
B. The marginal costs of pollution control are lower than the marginal benefits.
C. The benefits of pollution control can be achieved with few opportunity costs.
D. The government will subsidize the coal industry to offset the job losses from pollution abatement.
Answer: A
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A nonexcludable public good is
A. nonrivalrous in consumption. B. rivalrous in consumption. C. asymmetric. D. a good for which it is impossible (or prohibitively costly) to exclude someone from receiving the benefits of its services. E. a and d
Which of the following will make price discrimination difficult for a monopolist?
A) the possibility of resale of the product B) a constant marginal cost curve C) an increasing marginal cost D) a downward sloping demand curve
The act of putting a new product on the market in order to make profits is called
a. invention. b. innovation. c. investment. d. development.
The specialized information-gathering activities that banks use to evaluate borrowers are an example of the:
A. cost-benefit principle. B. principle of comparative advantage. C. principle of increasing opportunity cost. D. scarcity principle.