Refer to the diagram. With MB1 and MC1, society's optimal amount of pollution abatement is
A. Q3.
B. Q4.
C. Q1.
D. Q2.
Answer: C. Q1.
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If there are four firms in a market and one has a 40 percent market share, one has a 25 percent market share, one has a 20 percent market share, and one has a 15 percent market share, the Herfindahl-Hirschman Index (HHI) in this market is ________.
A) 2,850 B) 5,250 C) 1,270 D) 8,250
Those living in the poorest quartile of countries would like to emigrate because:
A. earnings are higher for the same skill level in richer countries. B. the opportunities to gain more education are higher in richer countries. C. the cost of living is lower in richer countries. D. All of these statements are true.
If you deposit $100 of currency into a demand deposit at a bank, this action by itself
a. does not change the money supply. b. increases the money supply. c. decreases the money supply. d. has an indeterminate effect on the money supply.
Marginal revenue is
A. change in total revenue/output. B. total revenue/output. C. change in total revenue/change in output. D. total revenue/change in output.