The marginal social cost (MSC) function is the sum of the following:
a. market-level marginal abatement cost (MACmkt) + marginal cost of enforcement (MCE)
b. marginal abatement cost (MAC) + marginal external cost (MEC)
c. marginal abatement cost (MAC) + total social cost (TSC)
d. market-level marginal abatement cost (MACmkt) + marginal external cost (MEC)
a. market-level marginal abatement cost (MACmkt) + marginal cost of enforcement (MCE)
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Approximately how long does it take for the successive increases in spending and output to be completed after an initial increase in investment spending?
a. Two years b. Ten years c. Six years d. One year e. Five years
The OPEC-designed oil price increases caused the cost of producing almost everything in our economy to increase, resulting in
a. demand-pull inflation b. cost-push inflation c. deflation d. depression e. increased leveraged buyouts
If the government reduces transfer payments, what happens to the budget deficit? What curve does this change in the market for loanable funds, which direction does it shift, and what happens to the equilibrium interest rate?
Between 1960 and 1995, Social Security benefits:
A. increased, which increased the poverty rate among the elderly. B. decreased, helping reduce the poverty rate among the elderly. C. decreased, which increased the poverty rate among the elderly. D. increased, helping reduce the poverty rate among the elderly.