The market for watermelons in Alabama is perfectly competitive. A watermelon producer making zero economic profit could make an economic profit if the
A) average total cost of selling watermelons does not change.
B) average total cost of selling watermelons rises.
C) average total cost of selling watermelons falls.
D) marginal cost of selling watermelons does not change.
E) marginal cost of selling watermelons rises.
C
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The elasticity of demand is constant along a downward sloping straight-line demand curve
Indicate whether the statement is true or false
In the short-run, a temporary increase in money supply
A) shifts the DD curve to the right, increases output and appreciates the currency. B) shifts the AA curve to the left, increases output and depreciates the currency. C) shifts the AA curve to the left, decreases output and depreciates the currency. D) shifts the AA curve to the left, increases output and appreciates the currency. E) shifts the AA curve to the right, increases output and depreciates the currency.
Environmental CSR that is undertaken to reduce negative externalities might be
A) altruistic. B) strategic. C) undertaken because of Internet-based scrutiny. D) All of the above.
Both Wisconsin and Illinois border Lake Michigan. The lake is becoming polluted, and both states are deciding whether or not to clean it. If Wisconsin decides to clean the lake, it will cost $1,200 and generate social benefits of $1,500 . However, Wisconsin will receive only $1,100 of those social benefits, while neighbor Illinois will receive the other $400 . If Illinois cleans the lake, it will
cost $700 and generate social benefits of $900 . However, Illinois will receive only $600 of those benefits, while Wisconsin will receive the remaining $300 . If either state does not clean the lake, it experiences a cost of $0 . If Wisconsin does not clean the lake and Illinois does, then _____. a. Wisconsin gains $200 and Illinois gains $100 b. Wisconsin gains $200 and Illinois loses $100 c. Wisconsin gains $300 and Illinois loses $100 d. Wisconsin gains $300 and Illinois gains $100