Pollution is a form of market failure called a public externality
a. True
b. False
B
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Describe the three broad categories of the U.S. budget
What will be an ideal response?
Typically during a recession
A) incomes fall, and unemployment falls. B) incomes and unemployment rise. C) incomes fall, and unemployment rises. D) incomes increase, and unemployment falls.
Exhibit 8-5 Demand and cost data for a monopolist Price Quantity TR MR TC Profit $10 1 10 10 4 9 2 8 8 3 12 7 4 16 6 5 20 5 6 24 4 7 28 3 8 32 2 9 36 1 10 40 By calculating the data provided in Exhibit 8-5, how much is the profit if the firm decides to produce 7 units?
A. 0. B. 24. C. 16. D. 12.
Which of the following is NOT a voluntary exchange?
A. Jason pays $20,000 for tuition and fees this semester. B. Jose loses his smartphone on the way home. C. Emily buys a $500 plane ticket to fly from Miami to Dallas on short notice. D. Marie buys groceries.