If MSC = 20 + 0.75A, where MSC is in millions of dollars, and A is the percentage of mercury emissions abatement, then
a. marginal social cost is $7.5 million when 10 percent of mercury emissions are abated
b. the MSC function graphs with a horizontal intercept of 20
c. MSC equals $35 million if 20 percent of mercury is abated
d. TSC must be declining with higher abatement levels
c. MSC equals $35 million if 20 percent of mercury is abated
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The relationship between professional basketball players and the owners’ association is an example of a bilateral monopoly.
Answer the following statement true (T) or false (F)
If the dollar interest rate is 10 percent and the euro interest rate is 6 percent, then
A) an investor should invest only in dollars if the expected dollar depreciation against the euro is 8 percent. B) an investor should invest only in euros if the expected dollar depreciation against the euro is 8 percent. C) an investor should be indifferent between dollars and euros if the expected dollar depreciation against the euro is 8 percent. D) an investor should invest only in dollars. E) an investor should invest only in euros.
An In the News article discusses "Too Many Sellers: The Woes of T-Shirt Shops." If T-shirt shops are perfectly competitive firms, then
A. Shops can definitely earn an economic profit in the long run. B. There are few T-shirt shops. C. The barriers to entry are low. D. Each shop has market power.
Stagflation refers to:
A. an increase in inflation accompanied by decreases in real output and employment. B. a decline in the price level accompanied by increases in real output and employment. C. a simultaneous increase in real output and the price level. D. a simultaneous reduction in real output and the price level.