Use the above table. What will the tax be when external costs are internalized?
A) $14
B) $13
C) $12.20
D) $1.80
D
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Legislation that benefits many individuals at the expense of a few is a natural outcome of representative democracy
a. True b. False
When it is cheaper for one firm to produce a particular product, ____ exist(s)
a. economies of scale b. economies of scope c. diminishing marginal returns d. cross-subsidization
Earnings of some highly skilled or highly specialized persons can be classified as economic rents
a. True b. False Indicate whether the statement is true or false
Which of the following is true of home mortgage loans since the late 1990s?
a. Government regulations required homebuyers to make larger down payments in order to obtain a mortgage. b. Traditional fixed-rate, long-term mortgages grew in popularity. c. There was a substantial increase in the volume of mortgage loans extended with little or no down payment. d. High interest rates made it less attractive to lock in to a fixed-rate, long-term loan.