A legal entity that may conduct business in its own name just as an individual does is a(n)
A) corporation.
B) entrepreneur.
C) proprietorship.
D) partnership.
A
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Use the figure below to answer the following question.
If a price ceiling in this market is set at P1, producer surplus is represented as which area on the graph?
A. b. B. c. C. c + b + d. D. b + c.
Legislation that provides a price support for dairy farmers is an example of
a. public-interest legislation b. competing-interest legislation c. a positive-sum game d. special-interest legislation e. concentrated-costs legislation
The specificfactors model predicts that after immigration, the equilibrium wage in both industries in the destination nation:
a. rises. b. falls. c. remains the same. d. cannot be determined with the information given
The optimal amount of pollution abatement is such that
A) the total benefit of reducing pollution is equal to the total cost of reducing pollution. B) the marginal private cost of reducing pollution is just equal to the profit of the polluting firms. C) there is no remaining pollution. D) the marginal social cost of reducing pollution is just equal to the marginal social benefits from doing so. E) none of the above; there is no optimal amount of pollution abatement.