The optimal amount of pollution is NOT zero because
A. zero pollution would be too costly.
B. we don't have the political structure that could accomplish the goal.
C. there are no benefits to anyone from having zero pollution.
D. it has been found that pollution in moderate amounts actually has positive benefits.
Answer: A
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The cost of producing an additional unit of a good or service that falls on people other than the producer is the marginal
A) external cost. B) private cost. C) social cost. D) social benefit. E) None of the above answers is correct.
Suppose Larry's Lariats produces lassos in a factory, and uses nine feet of rope to make each lasso. The rope is put into a machine that automatically cuts it to the right length, then seals the ends to prevent fraying. The rope is then hand tied, dipped, and wound before being placed in a packaging machine to prepare it for retail sale. Which of the following would be considered a fixed cost for this company?
A. Employee wages B. The cost of rope C. The packaging material D. None of these would be considered a fixed cost.
Which of the following statements is true?
a. The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making. b. In capitalism income is distributed on the basis of need. c. Adam Smith was the father of socialism. d. Most real-world economies are mixed economic systems. e. The "invisible hand" refers to government economic control.
Answer the following statement(s) true (T) or false (F)
1. Pesticide reregistration refers to a reevaluation of a previously licensed pesticide that is already on the market. 2. The primary goal of the Pesticide Environmental Stewardship Program (PESP) is to regulate pesticide use. 3. FIFRA rulings require that no pesticide be sold or distributed unless it has been registered with the EPA. 4. The incremental benefits of pesticide use can be modeled as the change in consumer and producer surplus associated with an increase in the demand for an agricultural crop. 5. The first TSCA inventory was published in the 1970s.