The marginal benefit of pollution abatement
A) increases at an increasing rate as abatement increases.
B) decreases as pollution abatement increases because of the law of diminishing marginal utility.
C) increases as pollution abatement increases because of the law of increasing marginal returns.
D) is constant as pollution abatement increases.
B
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Private goods are ________
A) excludable but non-rival in consumption B) non-excludable and non-rival in consumption C) non-excludable but rival in consumption D) excludable and rival in consumption
If the demand for good A is more elastic than the demand for good B, a small increase in supply in both markets will cause
a. a much greater increase in the equilibrium quantity of good A than for good B b. a much greater increase in the equilibrium quantity of good B than for good A c. the equilibrium quantity will decrease by the same amount in both markets d. only the equilibrium quantity of good B will decrease e. only the equilibrium quantity of good A will decrease
For the labor force to definitely increase,
A. People must turn from being discouraged workers into people actively seeking employment. B. There must be an increase in immigration. C. There must be an increase in total population. D. None of the choices are correct.
What is the lowest price the firm would accept in the short run?
