Among the components of each NPDWR is
a. the minimum contaminant level
b. a secondary maximum contaminant level to protect public welfare
c. a National Contaminant Occurrence Database (NCOD)
d. the maximum contaminant level goal (MCLG)
d. the maximum contaminant level goal (MCLG)
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An oligopoly created because of economies of scale is called a
A) natural oligopoly. B) legal oligopoly. C) public oligopoly. D) monopolistic oligopoly. E) scale oligopoly.
Suppose a firm has one variable input, labor. Why is the MRPL curve for a competitive firm above the MRPL curve for a monopolist?
A) Without competition from other firms, monopolies are less efficient and the marginal product of labor is lower at each level of output. B) Although the marginal product of labor may be the same under both market structures, the marginal revenue of the monopoly declines with output. C) Monopolists have less incentive to invest in worker training and other methods for improving labor productivity, so the marginal product of labor is lower in the monopoly case. D) none of the above
The principle of diminishing marginal utility can potentially be used to support policies that redistribute income. This principle suggests that increases in income for an individual will generate less additional happiness the higher the level of income
a. True b. False Indicate whether the statement is true or false
What happened to the international gold standard during WWI?
A) It flourished, since no nation trusted the other nations' currencies. B) It was abandoned. C) It did not disappear but was weakened by a major decline in international trade. D) It was relegated to government control.