A major problem with using a tradable emission allowances system to control pollution is
A) that it grants firms a license to pollute.
B) the difficulty in determining the emissions target.
C) that it does not eliminate pollution completely.
D) it discourages firms from implementing cost-effective pollution control technology.
B
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For this utility function, the MRS:
a. depends on the values of x and y. b. is always 0. c. is always 2. d. is always 4.
A firm's economic profit includes all opportunity costs incurred by the firm
a. True b. False Indicate whether the statement is true or false
What is meant by equilibrium wage (W*)?
a. wage at the point of diminishing marginal product b. median cost of labor, with half making more and half less c. price of labor at the level where supply and demand meet d. fair wage without consideration of supply or demand
A share of Microsoft stock would best be described as which of the following?
A. A debt instrument B. An underlying instrument C. A means of payment D. A derivative instrument