All of the following are examples of nonpoint source pollution EXCEPT
a. urban runoff c. agricultural runoff
b. sulfur emissions from power plants d. snowmelt from city streets
b. sulfur emissions from power plants
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Which of the following is most likely to be a variable cost of production in the short run?
A. Real estate taxes B. Rental payments on IBM equipment C. The interest on a business loan D. Fuel and power payments
An equation that captures how inputs of production are related to output is called a:
A. consumption function. B. GDP deflator. C. production function. D. saving function
Which of the following is true of the relationship between price and quantity supplied? a. Whatever the price level, quantity supplied is equal to quantity demanded. b. More is supplied at lower prices. c. As the price rises, consumers are willing to purchase more of the good supplied. d. Except for market-day supply, an increase in price generates an increase in quantity supplied
e. An increase in price leads to a decrease in quantity supplied.
Suppose that the market for product X is characterized by a typical, downward-sloping, linear demand curve and a typical, upward-sloping, linear supply curve. If a $2 tax per unit results in a deadweight loss of $200, how large would be the deadweight loss from a $4 tax per unit?