Pair-wise majority voting ________ the criteria of an ideal voting system.
A. meets all of
B. fails to meet all of
C. fails to meet one of
D. fails to meet two of
Answer: C
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Assume that the price of a futures contract is higher than the price of the underlying security during the delivery period. Arbitrageurs would
A) buy the futures, simultaneously sell the underlying asset, and pocket the price difference. B) sell the futures, simultaneously buy the underlying asset, and pocket the price difference. C) sell the futures, simultaneously sell the underlying asset, and pocket the price difference. D) buy the futures, simultaneously buy the underlying asset, and pocket the price difference.
Table 28.1Reduction in Emissions (in tons)MC to Reduce Emissions by Steel PlantMC to Reduce Emissions by Paper Plant1$400$20025002803600320Refer to Table 28.1. Suppose the government allows these two firms to trade pollution permits. What would be the price of a permit to emit the second ton of pollutants?
A. Less than $200. B. Between $280 and $400. C. More than $500. D. Between $200 and $280.
A monopolist will never produce a level of output where MR < 0.
Answer the following statement true (T) or false (F)
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.