Requiring all firms to reduce emissions by the same percentage is
a. impossible.
b. inefficient.
c. inequitable.
d. unenforceable under the law.
b
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Refer to Figure 9.1. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of $20, consumer surplus will
A) fall by $200. B) fall by $300. C) remain the same. D) rise by $200. E) rise by $300.
When a transfer price decreases
a. the costs of the division using the intermediate product will fall b. the profits of the division using the intermediate product will be unaffected c. the profits of the division using the intermediate product will fall d. the profits of the division using the intermediate product will rise
Earnings of a resource is termed as economic rent if:
a. it has a perfectly elastic demand. b. it has a perfectly elastic supply. c. it has a perfectly inelastic supply. d. it has a perfectly inelastic demand. e. it has no demand.
Which of the following best describes the assumption that monetarists make regarding velocity?
A. Velocity is fairly predictable in the short run and certainly in the long run. B. It is not possible to predict velocity in the short or long run. C. Velocity is variable in the long run but predictable in the short run. D. Velocity is constant in the long run but variable in the short run.