Invention cannot be successful financially if price is
a. greater than marginal cost because invention is based largely on social costs.
b. greater than marginal cost because invention is based solely on external costs.
c. equal to marginal cost because invention is based largely on variable costs.
d. equal to marginal cost because invention is based largely on fixed costs.
d
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The table above gives the domestic demand and supply schedules for a good. Suppose the world price of the good is $40 and the government imposes a $20 per unit tariff. How much will the government collect as tariff revenue?
A) $160 B) $360 C) $320 D) $240 E) $80
The cost-effective solution is:
Suppose the combined abatement for two firms, firm X and firm Y, facing the New Source Performance Standards (NSPS) must total 30 units, and that the MAC functions for these firms are: MACX = 0.6AX MACY = 0.3AY Use this information for either of the next two questions below. a. Ax = 15; Ay = 15 c. Ax = 10; Ay = 20 b. Ax = 9; Ay = 4.5 d. none of the above
The concept of present value helps explain why the quantity of loanable funds demanded decreases when the interest rate increases
a. True b. False Indicate whether the statement is true or false
Laissez-faire economists believe:
A. government policies are largely ineffective in coordinating economic activity. B. government intervention in the market is necessary for a smoothly operating economy. C. most government policies would probably make things worse. D. government can implement policy proposals that have mostly positive impacts on the economy.