The Black Ash Steel Company's plant belches large quantities of noxious fumes and black ash into the air. Residents in the surrounding area have higher medical bills because of Black Ash's pollution
If the firm is forced to pay the social costs of its production A) the amount of steel it produces will increase in order to pay the additional costs.
B) the price it charges for its steel will decrease.
C) its supply curve will shift to the right.
D) it will produce less and charge more for its steel.
D
You might also like to view...
Changes in ________ that are intended to achieve macroeconomic policy objectives refer to fiscal policy
A) exchange rates B) interest rates C) government taxes and purchases D) the money supply
According to the above table, at a price of $8 per unit, other things constant
A. a surplus of 100 units will exist. B. there will be no tendency for the market to approach an equilibrium. C. a shortage of 80 units will exist. D. consumers will continue to bid prices upward.
Answer the following statement(s) true (T) or false (F)
Nations with high tariff barriers have tended to have higher average annual rates of real GDP per capita growth since 1965.
Refer to the above graph. What will shift D2 to D1?
Refer to the above graph. What will shift D2 to D1?
A. A decrease in productivity of labor
B. A decrease in the price of labor
C. A decrease in the price of complementary input
D. A decrease in the price of a substitute input (if the output effect > substitution effect)