In the figure above, how can the economy represented by the production possibilities frontier move from point C to point F?
A) Increase the available amount of resources.
B) Increase the level of technology.
C) Redistribute the existing resources to produce more apples and fewer oranges.
D) First move to point B and then move to point F.
C
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Eva wants to create a graph containing the prices of concert tickets and the corresponding quantities of concert tickets demanded by customers. She should use a(n)
a. pie chart. b. bar graph. c. time-series graph d. coordinate system.
In which of the following cases is the Coase theorem most likely to solve the externality?
a. Ed is allergic to his roommate's cat. b. Chemicals from manufacturing plants in the Midwest are causing acid rain in Canada. c. Polluted water runoff from farms is making residents of a nearby town sick. d. Industrialization around the world is causing global warming.
Once tradable pollution permits have been allocated to firms,
a. the government controls the price of permits. b. firms that can reduce pollution only at high cost will be willing to pay the most for the pollution permits. c. the value of pollution-saving technology will be lower than the market value of a pollution permit. d. the Coase theorem is no longer applicable as a solution to reducing pollution.
OPEC is an example of a:
A. duopoly. B. monopoly. C. monopsony. D. cartel.