The pricing of environmental damage because of pollution is difficult because of intangible losses.
Answer the following statement true (T) or false (F)
True
It may be easy to assign values to environmental damage in some cases, such as the increase in cancer and heart attacks, the rate at which buildings decay or forests and lakes die, and so on. However, it is much more difficult to assign values to intangible losses like polluted vistas, endangered wildlife, and lost recreation opportunities.
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Stan owns a software design business. He does not have time to expand his office space or redesign the layout of his office
He can increase the amount of work he does by working more hours, asking his current employees to work more hours, or hiring more employees. The relationship between Stan's inputs and the maximum output his firm can produce is called his A) short-run production function. B) cost function. C) long-run production function. D) production possibilities frontier.
Assume the market in the graph shown with demand D and supply S1 is in equilibrium at a quantity of 5 units. Consumer surplus is:
A. $5.
B. $10.
C. $45.
D. $9.
Refer to the information provided in Figure 1.7 below to answer the question(s) that follow.
Figure 1.7Refer to Figure 1.7. The slope of the line is
A. decreasing at an increasing rate. B. increasing at a decreasing rate. C. negative. D. positive.
Devastating damage resulting from a major earthquake and tsunami will most likely
A) initially move a country to a time path beneath its balanced growth path. B) move a country to a lower point on its balanced growth path. C) shift the balanced growth path for a country to a new, lower level. D) have little to no impact on the short-term growth rate in a country.