The optimal quantity of air pollution is
A) whatever amount of pollution is produced by the profit maximizing firm.
B) found by equating the marginal benefits from further reductions in pollution and the marginal costs of further reductions in pollution.
C) found by setting the quantity of air pollution equal to the quantity of water pollution.
D) a meaningless concept since monetary values cannot be attached to problems associated with pollution.
B
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Marginal revenue product is the
A. additional revenue from one additional dollar increase in price. B. change in the revenue product resulting from one additional unit of input. C. additional revenue from one additional unit of input. D. change in revenue resulting in one additional dollar in price.
Based on U.S. income data from 2011, the bottom fifth of all families received approximately what percent of all income?
a. 48.9 percent b. 21.3 percent c. 8.6 percent d. 3.8 percent
For an economy at full employment, an increase in the quantity of money will lead to what sequence of shifts in aggregate demand and supply curves?
What will be an ideal response?
The growth of medical insurance in general and first-dollar coverage specifically has reduced the marginal cost of treatment to the consumer. Therefore, the current level of medical treatment in the United States is:
A. equal to the efficient level. B. less than or equal to the efficient level. C. less than the efficient level. D. greater than the efficient level.