The efficient level of pollution abatement is where:
A. the marginal benefit of abatement is greater than its marginal cost.
B. the marginal benefit of abatement is less than its marginal cost.
C. the marginal benefit of abatement is equal to its marginal cost.
D. None of these
Answer: C
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The money demand curve will shift to the left if:
A. the price level decreases. B. the nominal interest rate decreases. C. the nominal interest rate increases. D. the price level increases.
Factors of production include all of the following EXCEPT ________
A) machines made in past years. B) money C) entrepreneurship D) a wheat field that is not irrigated
Regarding the issue of slavery, the Constitution
(a) denounced it as being inconsistent with the rights of man and called for its eventual elimination, though it did not specify clearly how or when this was to be done. (b) gave slavery legitimacy and support. (c) made no mention of slavery, with the hope, apparently, that the individual states would deal with it if they saw it as a problem. (d) required that the slave trade be immediately banned with all slavery to be abandoned in twenty years.
A company is producing 15,00 . units. At this output level, marginal revenue is $22 and the marginal cost is $18 . The firm sells each unit for $48 and average total cost is $40 . What can we conclude from this information?
a. The company is making a loss b. The company needs to cut production c. The company needs to increase production d. Not enough information is provided