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
A
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Refer to Figure 5-5. If, because of an externality, the economically efficient output is Q2 and not the current equilibrium output of Q1, what does D2 represent?
A) the demand curve reflecting the sum of social and external benefits B) the demand curve reflecting social benefits C) the demand curve reflecting private benefits D) the demand curve reflecting external benefits
Why do some people oppose having monetary policy more directly controlled by the president and Congress?
a. They fear that such action would make the process less efficient. b. They want macroeconomic decisions to be protected from political pressures. c. They fear that Congress and the president would focus only on expansionary policies. d. They want special interest groups to have more influence on monetary policy than Congress.
Which of the following is an automatic stabilizer?
A. Unemployment compensation B. Property taxes C. Military expenditures D. Social Security benefits
The data in the table show the marginal costs and marginal benefits to a city for five different levels of pollution control.Quantity of Pollution AbatementMarginal CostMarginal Benefit900 tons$400,000$100,000800 tons300,000150,000700 tons200,000200,000600 tons100,000250,000500 tons50,000300,000Refer to the above table. If the marginal benefit of pollution abatement increased by $150,000 at each level because of the community's newfound desire to attract cleaner industry, then the optimal level of pollution abatement in tons would be:
A. 600. B. 700. C. 800. D. 900.