As a general rule, if pollution costs are external, firms will produce
a. too little of a polluting good.
b. too much of a polluting good.
c. an optimal amount of a polluting good.
d. cannot be determined without additional information.
B
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Relative to the United States, Europe has
A) higher unemployment. B) slower job growth. C) higher real wage growth. D) A and B. E) all of the above.
Google’s 88 percent market share of web search services makes it a monopolist.
Answer the following statement true (T) or false (F)
Suppose a firm has a monopoly on the sale of a computer game and faces a downward-sloping demand curve. When selling the 50th game, the firm will always receive
a. less marginal revenue on the 50th game than it received on the 49th game. b. more average revenue on the 50th game than it received on the 49th game. c. more total revenue on the 50 games than it received on the first 49 games. d. Both b and c are correct.
Eldin is a house painter. He can paint three houses per week. He is considering hiring his friend Murphy. Together, Eldin and Murphy can paint five houses per week. What is Murphy's marginal product?
a. 2 houses b. 3 houses c. 5 houses d. 8 houses