All of the following are point sources, EXCEPT
a. publicly-owned treatment works (POTW)
b. factory smokestack
b. recreational motor boat
d. urban runoff
d. urban runoff
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Refer to the above figure. If the government requires the natural monopolist to charge the efficient price, it will charge price
A. P2 and sell Q1 units. B. P1 and sell Q4 units. C. P3 and sell Q3 units. D. P5 and sell Q1 units.
We know government failure as the notion that ________ becomes the tool of ________ and makes the allocation of resources even less efficient than before, and this is described in public choice theory.
A. the public; the government B. government; the rent seeker C. a natural monopoly; the government D. government; barriers to entry
As a strategy to boost enrollment, in January 1996, a private college in Iowa offered free tuition for graduating high school seniors from the county where it is located. For students who accepted the offer, how did this offer affect the opportunity cost of attending college?
A. The opportunity cost did not change, since lost earnings were still a factor. B. The opportunity cost became zero for the typical student. C. The opportunity cost was very low, because the only cost was for books and supplies. D. The opportunity cost did not change, since tuition was not a factor in computing opportunity cost. E. The opportunity cost was lower than if tuition was charged, but there was still a cost.
What are the information costs faced by savers?
What will be an ideal response?