Mandating clean technology, cap-and-trade, and taxes are tools that government can use to limit pollution
Indicate whether the statement is true or false
TRUE
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Which of the following is an example of an in-kind transfer?
a. welfare payments b. most Social Security benefits c. unemployment compensation payments d. food stamps e. charitable contributions
Brodie sells fish in a perfectly competitive market. Suppose the current market price of fish is $4.50 per pound.
A. Brodie can sell as many fish as he can catch at $4.50 per pound. B. Brodie can charge any price he likes for his fish, but will maximize profit if he sells for less than $4.50. C. Brodie should charge more than $4.50. D. Brodie can charge more than $4.50 and still sell some fish.
A situation in which the price charged is equal to society's opportunity cost is known as
A) market failure. B) marginal monopoly pricing. C) marginal profits. D) marginal cost pricing.
The law of diminishing returns in a manufacturing plant of a fixed capacity implies that, eventually, employing one:
A. More worker will increase the average amount of output per worker B. More worker will decrease the average amount of output per worker C. Less worker will decrease the average amount of output per worker D. Less worker will not affect the average amount of output per worker