Pay-As-You-Throw programs that charge people a small price for each bag of trash they throw out are likely to ________
A) increase waste creation
B) increase recycling and reuse
C) increase the social cost of waste disposal
D) reduce social surplus
B
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A free rider problem is created by private goods
Indicate whether the statement is true or false
There are ten states in the democratic nation of Katlandia, and each state has ten thousand residents. Although incomes vary, each Katlandian pays a tax equal to the total cost of all government projects divided by the number of residents in the country. Currently, two states each have one army base. An army base adds $2 million to a state's local economy each year. In addition, in terms of increased security, the annual marginal benefit to Katlandia of having an additional army base is shown below. The total cost of an army base is $8 million per year.
Suppose the department of defense proposes to build a third base in the state of New Porkswick. Apart
from the value of the additional security to the nation, the state economy will benefit by ________ per resident, and each resident's taxes will increase by ________. A. $20; $80 B. $200; $80 C. $200; $800 D. $20; $800
Refer to the information provided in Table 13.3 below to answer the question(s) that follow. Table 13.3Price ($)Quantity4.001003.502003.003002.504002.005001.506001.00700Refer to Table 13.3. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $1 per unit of providing the product, what is the level of output that would maximize its profits?
A. 200 B. 400 C. 500 D. 600
If a developing country has sufficient reserves, the buying and selling of foreign currency by the central bank is:
A. likely to have a much smaller impact on the exchange rate than in developed countries. B. completely ineffective on the exchange rate. C. likely to have a much greater impact on the exchange rate than in developed countries. D. likely to have roughly the same impact on the exchange rate as in developed countries.