In which of the following situations should a firm reduce its efforts to abate pollution?
A. The marginal benefit of abatement is less than its marginal cost.
B. The marginal benefit of abatement is greater than its marginal cost.
C. The marginal benefit of abatement is equal to its marginal cost.
D. None of these
Answer: A
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In the economic way of thinking, what do entrepreneur's and bureaucrats have in common?
A) They each advance projects solely in the public interest. B) They each advance projects only if the expected marginal benefits exceed the expected marginal costs. C) They each advance projects only if the expected marginal benefits are less than the expected marginal costs. D) They each advance projects only if they impose no negative externalities.
As more Big Macs are consumed each day, the marginal utility that a person gets from each additional Big Mac:
a. rises at a steady rate. b. decreases. c. remains constant. d. accelerates.
The agency in charge of environmental law is the Environmental Protection Agency
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 5.5 below to answer the question that follows.
Figure 5.5Refer to Figure 5.5. As the price of good W decreased, the demand for good Y shifted from D1 to D2. The cross-price elasticity of demand between W and Y is
A. zero. B. positive. C. negative. D. indeterminate from this information.