The marginal cost of pollution abatement is the
A) additional cost to clean up an additional unit of pollution.
B) additional benefit from cleaning up an additional unit of pollution.
C) total social costs of pollution clean-up divided by total social benefits.
D) total social costs of pollution clean-up divided by the total units of clean-up.
Answer: A
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A central management concept is _______________ which is concerned with how time spent in one activity takes away from time spent in another activity
a. time displacement b. time exploitation c. time strategy d. time aspiration
Refer to Figure 9.1. If the market is in equilibrium, the producer surplus earned by the seller of the 1st unit is ________
A) $5.00 B) $10.00 C) $15.00 D) $20.00 E) $40.00
From Example 7.2, most pizza restaurants have large fixed costs and relatively low variable costs. What does this tell us about the average variable cost (AVC) of producing pizza?
A) AVC is relatively low B) AVC is relatively high C) AVC is high for low quantities but declines quickly D) AVC is increasing for all quantity levels
If the purchasing power of the dollar is always the same at home and abroad, then the nominal exchange rate defined as units of foreign currency per dollar decreases if the U.S. price level rises more than the price level in foreign countries
a. True b. False Indicate whether the statement is true or false