Where it can function, a market for pollution rights can serve to internalize the air-pollution externality
Indicate whether the statement is true or false
T Pollution rights can be traded to determine their value after an acceptable pollution level has been chosen.
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Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. Suppose Kate enters the market first and chooses her output before Alice. What is Kate's profit maximizing output?
A. 2,000 B. 1,333.34 C. 1,000 D. 4,000
Suppose the Inkuyo family invests in the local bottling corporation. Albert, Brad, Carol, and Diana each invest separately. At the end of a very successful quarter, Carol and Brad receive a payment from the corporation equal to 10 percent of their investment. Albert receives 7 percent, but is paid before Carol or Brad. Diana receives 6 percent. If Diana receives her money before Albert, she must
have invested in a. common stock b. preferred stock c. convertible stock d. corporate bonds e. low-yield dividends
Which of the following is a valid effect of monopoly power?
a. Desirable effects on the distribution of wealth. b. Efficient resource allocation. c. Fostering of innovation. d. Obstacle to efficiency.
Day laborers who are in the United States illegally and work off the books are:
A. part of the nonmarket transactions that are omitted from GDP. B. part of the underground economy, which is not measured in GDP. C. production by noncitizens, which is included in GNP but not in GDP. D. one of the items included in the genuine progress indicator.