For a fixed percent reduction in pollution emissions to be economically efficient, it would have to be the case that:
A. all firms be the same size.
B. enforcement is vigorous.
C. the marginal cost of pollution control is the same across all firms.
D. large polluters reduce emissions by more than small polluters.
Answer: C
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Both the ________ do not put a great deal of emphasis on the capital account
A) absorption and monetary approaches B) monetary and elasticities approaches C) elasticities and absorption approaches D) None of the above
Saving remaining constant, the average propensity to save declines with an increase in disposable income
a. True b. False Indicate whether the statement is true or false
The U shape of the average total cost curve is because:
A. average productivity rises and then falls. B. marginal product falls and then rises. C. average productivity falls and then rises. D. average productivity is constant.
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher