Which of the following would be an external cost associated with the production of coal- fired electricity?
a. the cost of misleading advertising
b. the increase in labor costs as the firm pays its workers who are adversely affected by the coal-fired technology
c. the pollution generated by the firm's physical plant
d. the decrease in value consumers attach to this kind of electricity
e. the value people derive from turning off lights when they leave the room, that is cost-saving
C
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The law of demand implies, holding everything else constant, that as the price of bagels increases
A) the demand for bagels will decrease. B) the demand for bagels will increase. C) the quantity of bagels demanded will increase. D) the quantity of bagels demanded will decrease.
COLA clauses are usually based on the
a. CPI. b. PPI. c. implicit price deflators. d. level of unemployment.
The use of money as a common denominator to sum the output of into a meaningful measure of GDP creates a problem because....
What will be an ideal response?
Assuming fixed factor prices, the short-run industry supply curve for a perfectly competitive industry is equal to the sum of the
A) AVC curves above minimum AVC. B) ATC curves above minimum ATC. C) MC curves above minimum AVC. D) MC curves above minimum ATC.