If marginal revenue is greater than marginal cost, a producer must reduce the level of output to maximize profit
a. True
b. False
Indicate whether the statement is true or false
False
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Assuming that the marginal social benefit (MSB) of environmental quality is known, then
a. theMSB represents the demand for environmental quality b. total social benefits (TSB) of abatement, A1, can be captured as an area under the MSB up to A1 c. incremental benefits are measured as an area under the MSB between the pre- and post-policy abatement levels d. all of the above e. none of the above
Tradeable effluent markets
a. exist only in the United States b. are being used only for point to point trades c. are in use in the United States, Canada, and Australia d. have resulted in consistently high rates of trading activity
If Harry Bartolini's Ford dealership sells Rosa Brown a new automobile for $30,000, economic analysis indicates that
What will be an ideal response?
Sticky prices can result from all of the following except:
a. market structure. b. long-term contracts between buyers and sellers. c. setting prices on the basis of costs when wages are sticky. d. expansionary monetary policy.