The optimal level of pollution reduction is that level at which
A. the total benefits of pollution reduction exceeds the total cost of pollution reduction by the largest amount.
B. the total benefits of pollution reduction equal the total cost of pollution reduction.
C. the marginal benefit of pollution reduction exceeds the marginal cost of pollution reduction by the largest amount.
D. the additional benefit of the last unit of pollution reduction equals the additional cost of the last unit of pollution reduction.
E. both a and d
Answer: E
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Refer to Table 4-8. If a minimum wage of $9.50 an hour is mandated, what is the quantity of labor supplied?
A) 390,000 B) 380,000 C) 370,000 D) 340,000
Oligopolies feature
a. the absence of barriers to entry b. extensive competition c. the goal of profit maximization d. strategic interaction of firms e. product differentiation
Consumer surplus is
a. the difference between the price of the good and the cost to produce the good. b, the sum of what consumers are willing to pay and the price of the good. c. the difference between what consumers are willing to pay and the price of the good. d. the difference between the cost to produce the good and the amount consumers are willing to pay for the good.
Women in developing countries tend to be more educated than men
Indicate whether the statement is true or false