Answer the following statement(s) true (T) or false (F)
1. The Clean Air Interstate Rule (CAIR) included an annual SO2 trading program.
2. NOX contributes both to acid rain and to the formation of ground-level ozone.
3. Because NOX readily moves across state borders, a series of interstate collaborations formedover time to address the problem, but none established a trading program.
4. Two new NOX cap-and-trade programs were launched under the Clean Air Interstate Rule (CAIR).
5. RECLAIM is a California trading program that used trading credits in a regional market for sulfur oxide and nitrogen oxide.
1. True
2. True
3. False
4. True
5. True
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Ray's Radios believed the synergies between radio production and battery production could be realized if he expanded. However, due to overseeing the battery expansion Ray devoted less time to the radio business leading to the radio unit costs increasing. Ray's Radios is experiencing
a. Economies of scale b. Economies of scope c. Diseconomies of scale d. Diseconomies of scope
Short-run aggregate supply: a. is a fixed volume of output
b. reflects how much RGDP suppliers are willing and able to produce at different price levels. c. shifts only when the LRAS shifts. d. is not affected at all by the price level.
The DeBeers Company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will:
A. exceed both the marginal cost and the average total cost of diamonds. B. be equal to the average total cost of diamonds. C. be equal to the marginal cost of diamonds. D. exceed the marginal cost of diamonds but be equal to the average total cost of diamonds.
When a firm's LRAC curve is still declining when it intersects the market demand curve, we call the firm a(n)
A. natural monopolist. B. oligopolist. C. perfect competitor. D. monopolistic competitor.