In a risk-benefit analysis of pesticide use,
a. benefits are the gains from eliminating or reducing pesticide use
b. benefits can be measured as the change in producer and consumer surpluses linked to increasing supply due to enhanced crop yields
c. the data needed to estimate benefits are readily obtainable
d. secondary benefits, such as improved worker productivity, are not relevant
b. benefits can be measured as the change in producer and consumer surpluses linked to increasing supply due to enhanced crop yields
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At a consumer optimum involving goods X and Y, the marginal utility of good X equals 5 utils. The price of good Y is three times the price of good X. What is the marginal utility of good Y?
A. 5. B. 3. C. 15. D. There is not enough information.
Between 1821 and 1930, the U.S. gained a comparative advantage in the production of agricultural goods
Indicate whether the statement is true or false
Cost-push inflation occurs when the factor contributing most to rising prices is increased demand for goods and services
Indicate whether the statement is true or false
What is the most likely reason that snack foods sold in vending machines are so much more expensive than snack foods sold in grocery stores?
A. Snack foods sold in vending machines come in smaller packages, so the per-package costs are higher. B. Grocery stores buy in bulk, while vending machine companies tend to buy in smaller quantities. C. People who purchase snack foods from vending machines tend to have less elastic demand for snack foods. D. Owners of vending machine companies are greedier than owners of grocery stores.