Zero pollution represents an efficiency standard
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Use two or three of the things we "know" about economic development to comment on the state of our knowledge
What will be an ideal response?
An article in The Economist reported that prices of CDs in Britain was much higher than prices in the United States or other European countries. There were only a few major companies, and a report from a Parliament committee said there was no serious price competition. The best explanation for this is that
a. the industry was a contestable market. b. there were entry barriers in production and distribution of CDs. c. firms were avoiding profit opportunities. d. there were substantial differentiation of product.
Oligopolies would like to act like a
a. duopoly, but self-interest often drives them closer to the perfectly competitive outcome. b. competitive firm, but self-interest often drives them closer to the duopoly outcome. c. monopoly, but self-interest often drives them to charge a higher price than would be charged by a monopoly. d. monopoly, but self-interest often drives them closer to the perfectly competitive outcome.
An economic explanation as to why individuals such as Bill Gates and LeBron James don't finish college is that:
A. the sunk cost of college is very high for them. B. the opportunity cost of college is very high for them. C. the benefits of additional college exceed the costs of additional college for them. D. the decision not to finish college is irrational.