Taxes, tradable pollution permits, and direct regulation of pollution are all market approaches to dealing with pollution.
Answer the following statement true (T) or false (F)
False
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Probably the most important source of efficiency in production is
A. investing in more capital goods. B. consuming rationally. C. expanding the production possibilities frontier. D. increasing inputs of energy and raw materials. E. the specialization of labor.
What will happen to the equilibrium price of new textbooks if more students attend college, paper becomes cheaper, textbook authors accept lower royalties, and fewer used textbooks are sold?
a. Price will rise. b. Price will fall. c. Price will stay exactly the same. d. The price change will be ambiguous.
Marginal revenue at the profit-maximizing/loss-minimizing amount is
A. $4.
B. $12.
C. $14.
D. $20.
If a firm is a union shop, then
A) a worker may elect to either join or not join the union. B) only workers who have been union members for two years may be employed. C) only union members may be employed by the firm. D) a non-union worker may be hired but must join the union within a certain time period.