Private costs are those borne by:
a. the government
b. the producer of an item.
c. both an item's producer and outside parties affected by a negative externality.
d. outside parties affected by a negative externality.
b
You might also like to view...
Which of the following is FALSE for a profit-maximizing single-price monopolist?
A) P = MC B) MC = MR C) P > MR D) None of the above because they are all true.
________ states that when an established domestic industry is in jeopardy of being displaced by lower-priced imports, then there could be a rationale for temporary import restrictions
a. The infant industry argument b. The antidumping argument c. The jobs and income argument d. The declining industry argument
Which of the following was an argument for using fiscal policy in situations like the Great Recession?
A. Congress can act quickly. B. The size of a recessionary gap may require the use of both fiscal policy and monetary policy. C. Once the federal funds rate is reduced to zero, monetary policy is less effective. D. All of these responses are correct.
Firms consider the ________ wage when considering whether to hire additional units of labor
A) minimum B) real C) normal D) nominal