In the auto industry, abatement costs to combat global warming
a. will be unaffected by recent standards on GHG emissions
b. should not affect vehicle prices
c. are expected to raise vehicle prices but these costs should be offset by fuel savings
d. none of the above
c. are expected to raise vehicle prices but these costs should be offset by fuel savings
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A company office can be thought of as
A. a trade-off with land. B. a land and labor combination. C. a type of entrepreneurship. D. physical capital.
If a perfectly competitive firm's price is above its average total cost, the firm
A) is incurring a loss. B) should shut down. C) is earning a profit. D) is breaking even.
An important type of information asymmetry is:
A. information withholding. B. advantage imbalance. C. moral hazard. D. ethical constraint.
The stability of cartel prices is challenged because
A. cartels never exist. B. though they increase profits, they are vulnerable to those that seek to make more profit by breaking the agreements that generated them. C. though they increase profits, they are vulnerable to egalitarian interests. D. they never increase the profitability of their members.