Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. Following the implementation of this tax, the total amount of pollution emitted in this industry will be ________
tons.
A. 25
B. 50
C. 75
D. 100
Answer: D
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The "expansion" of an economy occurs after
A) firms produce more goods. B) a trough. C) people spend more money. D) an inflationary period.
Surgical specialists earn more than general/family practice physicians. Which of the following statements is not true regarding this income differential?
a. Surgeons earn more because their practice costs, including medical malpractice insurance is higher. b. Surgeons earn more to compensate them for the extra years spent as residents. c. Physicians' incomes are determined to a large extent by supply and demand conditions with respect to each specialty. d. Surgeons will always earn more than general practitioners because they are smarter than general practitioners. e. Surgeons earn more than general practitioners because cutting into people is messy.
In 1961, ____ percent of college degrees were earned by women
a. 19 b. 29 c. 39 d. 51
Refer to the accompanying table. The law of diminishing marginal utility:UnitsUtils Per Year from T-shirtsUtils Per Year from Sweaters0001754002135720318096042101120
A. applies to both t-shirts and sweaters. B. applies to sweaters but not t-shirts. C. applies to t-shirts but not sweaters. D. does not apply to either t-shirts or sweaters.