The amount of the external marginal cost per ton illustrated in the above figure is
A) $8.00 per ton.
B) $12.00 per ton.
C) $16.00 per ton.
D) zero because no external cost is illustrated.
A
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Indicate whether the statement is true or false
When using the principle of comparative advantage, the person with no absolute advantage should perform the job in which he or she has
a. a 50 percent disadvantage. b. a 75 percent disadvantage. c. a lesser disadvantage. d. been trained.
In a competitive labor market, the change in total labor costs divided by the change in labor is always equal to:
a. one. b. the wage rate. c. the number of firms in the market. d. the change in total revenue. e. the competitive market price of the output.
A fluctuating rate of inflation
a. will cause a downturn in the housing sector b. redistributes income from creditors to debtors c. redistributes income from the employed to the unemployed d. was the problem that originally led to the creation of the Federal Reserve System e. interferes with long-run planning