Recycling in the United States in recent years
a. has decreased in spite of increased rates for common recycling materials.
b. has remained unchanged, and increased raes for recycling may help.
c. has increased with increased rates for recycling mterials.
d. has increased with no help from increased fees for recycling materials.
c
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Compare and contrast the four market models in terms of the profit-maximizing output level for each, the shut-down rule for each, the probability of long-run economic profits being earned, and their social desirability
The existence of positive externalities in the consumption of a good implies that: a. the social supply curve of the good lies to the right of the private supply curve
b. the government will need to provide subsidies to ensure a socially efficient level of consumption. c. the socially efficient quantity of the good will be less than the market equilibrium quantity. d. the good generates an external cost. e. the market equilibrium price of the good will be greater than the social equilibrium price.
Price discrimination
a. is illegal in the United States and Europe. b. can occur in both perfectly competitive and monopoly markets. c. is illogical because it does not maximize profits. d. can maximize profits if the seller can prevent the resale of goods between customers.
If a firm hires 215 workers it will produce 3,016 units of output. If it hires 216 workers it will produce 3,128 units of output. The marginal physical product of labor equals
A. 1. B. 3,128. C. 216. D. 112.