Which of the following might be a way that an automobile driver's pollution costs could be internalized?
A) The driver could purchase abatement equipment for her car.
B) The state could eliminate the gas tax.
C) The state could pay a gas subsidy for everyone who drives.
D) The state could allow her to drive in the HOV lane.
A
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The arithmetic value of (1 - MPC) equals
A) MPS. B) APS. C) APC. D) NDP.
For firms that sell one product in a perfectly competitive market, the market price is:
A. constant, regardless of quantity sold. B. equal to average revenue for a firm. C. equal to marginal revenue for a firm. D. All of these are true.
Suppose a firm that sells a variety of athletic shoes is trying to start a pattern of price leadership in its market. Which of the following is not a problem this firm might have to face?
a. Rivals recognize the intent of its actions. b. Other firms may not necessarily follow the leader. c. Other firms may not follow the leader but offer better service instead. d. Differentiation among products allows for more variation in price. e. The price leader must keep costs lower than other firms'.
The cost of unemployment to society includes the loss of the goods and services that might have been produced if the unemployed had been employed
a. True b. False Indicate whether the statement is true or false