The marginal benefit of the pollution abatement curve
A. has a zero slope.
B. slopes downward.
C. slopes upward.
D. has a positive slope up to a certain point and then a negative slope.
Answer: B
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The above figure shows the U.S. market for chocolate. With no international trade, producer surplus is equal to
A) area A + area B + area C + area D. B) area B + area C + area D + area E. C) area B + area C + area D. D) area C + area D. E) area E.
An equilibrium in a game in which players pursue their own self-interests and do not cooperate is called a
A) dominant strategy equilibrium. B) prisoner's dilemma equilibrium. C) noncooperative equilibrium. D) cartel equilibrium.
A disadvantage of the corporate form of business organization is
A) double taxation. B) limited access to capital. C) that the corporation can only do business in the state where it was incorporated. D) unlimited liability for shareholders.
The statement "It would be better to put up with price controls than to have continuing higher medical care prices" is an example of normative economic analysis
a. True b. False Indicate whether the statement is true or false