As growth progresses and countries become richer, pollution
A. rises exponentially.
B. tends to fall.
C. rarely changes.
D. levels double.
Answer: B
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A single-price monopolist will produce at the point where
A) MR = 0. B) MR = P. C) MR = MC. D) P = MC.
There is a famous economics saying that argues "if diminishing marginal productivity never set in then the world could be fed from a flower pot." Explain what this means economically
What will be an ideal response?
Jane is attempting to maximize utility by selecting a market basket of goods. For each of the goods in the market basket the marginal utility per dollar spent is equal
There are some goods which are affordable but do not appear in the Jane's market basket. If Jane has maximized utility, the marginal utility per dollar spent on each of the goods that does not appear in the market basket is: A) too high. B) too low. C) zero. D) infinite. E) none of the above
A monopolist that charges different prices to different buyers based on their elasticizes of demand is practicing
a. first degree price discrimination. b. second degree price discrimination. c. third degree price discrimination. d. predatory pricing.