The NAAQS
a. are set using benefit-cost analysis
b. are established using a benefit-based decision rule
c. achieve efficient levels of abatement for the criteria pollutants
d. both (a) and (c) are correct
b. are established using a benefit-based decision rule
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Suppose Cournot duopolist firms operate with each having a cost of 30qi (i = 1,2 ) so that each firm's marginal cost is 30. The inverse market demand curve is P = 120 - Q where Q = q1 + q2
Suppose there were no barriers to entry and firms continued to enter so long as there were positive economic profits. At the Nash-Cournot equilibrium, the price, P, is A) 30. B) 45. C) 60. D) 90.
The human skills theory is similar to the factor abundance theory of explaining the source of comparative advantage, except that the former concentrates only on different aspects of labor
a. True b. False Indicate whether the statement is true or false
Increases in the productivity of labor tend to
A. increase the marginal revenue product of labor and the wages employers are willing to pay for any given amount of labor. B. decrease the marginal revenue product of labor and increase the wages employers are willing to pay for any given amount of labor. C. increase the marginal revenue product of labor but have no effect on the wages employers are willing to pay for any given amount of labor. D. decrease the marginal revenue product of labor and the wages employers are willing to pay for any given amount of labor.
Why would the supply curve of a dog-walking business be considered elastic?
(A) Because it can hire workers quickly if the price rises. (B) Because the supply of dogs changes quickly. (C) Because the supply of dog walking isn't easily expanded or reduced. (D) Because the demand for dog-walking services fluctuates.