Suppose the government mandates the installation of a certain type of pollution abatement equipment for the leather tannery industry
For some firms in the industry, installing this equipment may not be the most cost effective method of reducing pollution.
Indicate whether the statement is true or false
TRUE
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Refer to the scenario above. After a year, the interest payments by the bank will be ________
A) $10 B) $300 C) $3,000 D) $3,300
In the late 1800s and early 1900s, farmers in the Great Lakes region
a. specialized in grain production. b. specialized in production of fresh fruits and vegetables. c. switched their emphasis from grain production to dairy farming. d. earned high profits by raising cattle for beef production.
Why are all costs really "opportunity costs"? What is an opportunity cost of attending class?
What will be an ideal response?
Use the following graph showing the domestic demand and supply curves for a specific product in a hypothetical nation called Marketopia to answer the next question.
When the world price for this product is $0.50, Marketopia will
A. import 500 units. B. export 100 units. C. import 400 units. D. import 100 units.