In order for a policy option to achieve allocative efficiency,
a. PVNB must be maximized c. PVC must be minimized
b. PVB must be minimized d. (PVB – PVC) must be minimized
a. PVNB must be maximized
You might also like to view...
In the United States, the top 1% of income earners face an average federal tax rate of ________ and contribute ________ of all federal tax dollars received
A) 73%; 49.5% B) 20%; 5% C) 24%; 9.1% D) 29.4%; 24.2%
An economy that has a debt crisis is most likely to have
a. income greater than absorption b. production in excess of total demand c. low inflation d. an undervalued currency e. all of the above
The popular diet drug Redux was removed from the market in August 1997, after a Mayo Clinic report linked the drug to heart valve damage. a . Explain the effect of this action on membership at Gold's Gym, on enrollment at diet centers such as Weight
Watchers, where clients learn to lose weight by exercising and eating right, and on sales of treadmills and exercise bikes. b. Would you expect people to switch to other diet drugs now that Redux has been banned? How would you explain the fact that sales of the most popular, and still legal, diet drug phentermine have plummeted since the Mayo clinic report was released?
What is a marginal cost?
What will be an ideal response?