The text notes that many firms that use animals in production or advertising adopt the animal treatment standards of the American Society for Prevention of Cruelty to Animals. Why do companies adopt a professional group's standard of behavior?
What will be an ideal response?
Professional groups such as ASPCA are well-respected advocacy groups. Having the stamp of approval from such professional groups can be a practical way to deflect criticism from the press or, ultimately, from customers.
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Consumption spending includes spending on:
A. durables, nondurables, and services. B. goods and services by federal, state, and local governments. C. capital goods, residential housing, and changes in inventories. D. stocks, bonds, and other financial instruments.
Financial risk occurs due to variations in returns which
A) is induced by leverage. B) is due to the ups and downs of the economy. C) is due to changes in government regulations. D) is a result of changes in exchange rates.
Given the data in the above table, what is the marginal revenue when the 12th unit is sold?
A) $7.00 B) $5.00 C) $3.00 D) $1.00
Which of the following methods could be used to correct for external costs?
A) Impose a tax or an effluent fee on the offenders. B) Have the offender clean up the pollution it caused. C) Require firms in the industry to install pollution control devices. D) All of the above would be appropriate.