What kind of garbage tends to be recycled in the United States?
a. hazardous materials that must be transformed chemically into less dangerous substances
b. biodegradable materials
c. foodstuffs
d. aluminum, paper, and other materials that have high commercial value
e. appliances that can be salvaged from dumps and repaired
D
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The coordination failure model is based on the possibility of increasing returns to scale
A) both at the aggregate level and at the level of the individual firm. B) at the aggregate level, but not at the level of the individual firm. C) at the level of the individual firm, but not at the aggregate level. D) in future periods, but not in the current period.
Expenditures on education equal about _____ of state and local government financial outlays
a. one quarter b. one third c. one half d. two thirds
A point along the production possibility frontier is:
A. inefficient. B. impossible. C. efficient. D. utility-maximizing.
Suppose a monopolist has positive fixed costs and constant marginal costs. If the government regulates a monopoly's price to marginal cost, in the long run:
A. the monopolist will earn a profit if ATC > MC. B. the monopolist will earn a profit if ATC > P. C. the monopolist will exit the industry. D. the monopolist will earn zero profits.