Refer to the above figure. The Law of Increasing Additional Costs applies in
A. Panel A only.
B. Panel B only.
C. Panels A and B.
D. neither Panel A nor B.
Answer: B
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Per-unit pollution reduction subsidies
a. are implemented by paying a polluter for using a particular type of abatement equipment b. can elevate profits, which encourages entry, and hence can perversely increase aggregate emissions c. are used exclusively in the United States at the federal level of government d. are designed to lower the costs of abatement technology
Refer to the table above. What is the marginal opportunity cost of transporting products to the market if the firm decides to choose factory Far over factory Very Far?
A) -$50 B) -$100 C) $50 D) $150
If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most likely happen?
a. The quantity of milk demanded will increase. b. The quantity of milk supplied will decrease. c. There will be a surplus of milk. d. There will be a shortage of milk.
Among male workers over age 25, about what percent has a college degree? What is this percentage for black male workers over age 25?