Requiring that a firm engage in pollution abatement tends to reduce the firm's profits.
Answer the following statement true (T) or false (F)
True
Pollution abatement will increase the costs to the firm, shifting the MC curve upward (supply curve leftward), resulting in lower output, higher prices, and lower profits. The ATC will shift up, not down.
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Which of the following is not an example of informal institutions?
A) Culture B) Laws C) Ethics D) Norms.
What economic concepts are represented in the production possibilities model?
What will be an ideal response?
The only Giffen goods that have been identified so far in the real world are luxury goods
Indicate whether the statement is true or false
The increase in the price of sugar created by the tariff will lead domestic consumption to fall by ________ tons per year, compared to when the economy is open without the tariff.
A. 40 B. 20 C. 30 D. 10