Pollution is a cost because it entails the sacrifice of valued opportunities
A) and because the process of creating it confers no benefits on the members of society.
B) for some people.
C) and reduces the net welfare of society.
D) which makes everyone worse off in the long run.
B
You might also like to view...
Economic growth is the result of all of the following EXCEPT
A) technological change. B) capital accumulation. C) opportunity cost. D) investment in human capital.
A market structure in which only one firm has survived because of its economies of scale is called a
A. natural monopoly. B. planned monopoly. C. structural monopoly. D. free monopoly.
How is the principle of diminishing marginal utility used to justify income redistribution?
According to Say's Law, in the aggregate
a. demand creates its own supply b. the production of output will generate exactly enough income to purchase what has been produced c. the economy is incapable of producing output fast enough to ensure full employment d. full employment cannot be sustained without government action e. consumer saving prevents the economy from reaching full employment