The _____________ the size of the potential customer base for a given product (for example, music), the ______________ is the variety of goods we are likely to see
A) larger; greater
B) smaller; smaller
C) larger; smaller
D) smaller; greater
E) a and b
E
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The smaller the percentage of voters required for collective action, the higher the external costs
a. True b. False
Sophia has a business using no owned capital and makes an accounting profit of $52,000 a year. Sophia could have worked for Verizon Wireless with a pay of $35,000 a year, but she would not have had time to run her business. The economic profit from Sophia's business per year is
a. $87,000. b. $35,000. c. $17,000. d. -$17,000.
If a nation's currency buys fewer units of a foreign currency today than yesterday, we say the value of its currency has:
a. appreciated. b. depreciated. c. stagnated. d. become inverted.
Two firms, Kegareta Inc. and Sucio Enterprises, have access to five production processes, each one of which has a different cost and gives off a different amount of pollution. The daily costs of the processes and the corresponding number of tons of smoke emitted are shown in the accompanying table. ABCDE 4 tons/day3 tons/day2 tons/day1 tons/day0 tons/dayKegareta Inc.$40$85$135$190$250Sucio Enterprises$120$175$250$345$460 Suppose the government imposes a tax of $56 per day on each ton of smoke emitted. Assuming the revenue the government collects from the tax is used to offset other taxes, what's the total cost to society of this policy?
A. $120 per day B. $205 per day C. $225 per day D. $180 per day