In the figure above, if no one owns the lake the tax that achieves the efficient outcome is ________ per ton of pesticide produced

A) $30
B) $40
C) $20
D) $10


A

Economics

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Refer to the figure above. What is the quantity effect of a price increase from $3 to $5?

A) $200 B) $600 C) $800 D) $1,000

Economics

All else equal, as the price of a product falls, the quantity supplied increases

Indicate whether the statement is true or false

Economics

When demand is elastic,

A. the percentage change in price is greater than the percentage change in quantity demanded. B. price increases raise total revenue. C. the buyer is sensitive to changes in price. D. the elasticity coefficient is greater than zero, but less than one.

Economics

The most common measure of productivity is output per

A. Labor-hour. B. Capita. C. Human capital. D. GDP.

Economics