Referring to the Production Possibilities Frontiers in Figure 1.11 A and B, which depicts generalized growth when there is increasing opportunity cost? 
Figure 1.11
A. Fig. A
B. Fig. B
C. Either A or B is correct
D. Neither A nor B are correct
Answer: A
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Use to following graph. 
Suppose Asarta Inc. is polluting yucko and they have been tasked with cleaning up some of their waste. If they are cleaning up Q tons of yucko then they are cleaning:
A. too little. B. too much. C. just the right amount. D. the allocatively efficient amount.
To maximize the social pie, a tax on pollution must equal the external cost created by the polluting activity
Indicate whether the statement is true or false
Which of the following statements correctly differentiates between consumer surplus and net benefits?
A) Consumer surplus at different levels of consumption can be calculated arithmetically, whereas net benefits at different levels of consumption cannot be estimated. B) Consumer surplus at different levels of consumption cannot be estimated, whereas net benefits at different levels of consumption can be calculated arithmetically. C) Consumer surplus measures difference between willingness to pay for a good and its price, whereas net benefits measure the overall satisfaction gained from consumption of a good. D) Consumer surplus equals the overall satisfaction gained from consumption of a good, whereas net benefits measure the difference between willingness to pay for a good and its price.
If a monopoly is maximizing profits,
a. price will always be greater than the elasticity of demand. b. price will always equal marginal cost. c. price will always be greater than marginal cost. d. price will always equal marginal revenue.