Unlimited wants need not be a problem if
A. resources are also unlimited.
B. resources are flexible in what they can do.
C. resources are basic energy resources like oil.
D. resources are human resources such as skilled labor.
A. resources are also unlimited.
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Perfect price discrimination is also referred to as:
A) first-degree price discrimination. B) second-degree price discrimination. C) third-degree price discrimination. D) fourth-degree price discrimination.
The income effect means that at a high enough wage rate labor supply curve has a
A) positive slope because an increase in the wage rate increases income. B) positive slope because an increase in income increases the demand for leisure. C) negative slope because an increase in income increases the demand for leisure. D) negative slope because an increase in the wage rate increases hours worked to earn more income.
Discharges of chemicals from a paper plant that pollute a nearby river represent an example of
a. internal costs. b. the underground economy. c. social costs. d. transfer costs.
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. For Alpha, the tax is ________ than the marginal benefit it gets from polluting, and for Beta, the tax is ________
than the marginal benefit it gets from polluting. A. higher; lower B. lower; higher C. lower; lower D. higher; higher