A command-and-control policy:
A. usually does not result in the use of the most efficient pollution abatement technology.
B. does not affect the production costs of firms.
C. usually finds the most efficient pollution abatement technology.
D. increases the incentive for firms to develop efficient abatement technologies.
Answer: A
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If a monopolist calculates its marginal revenue to be $15 and marginal cost to be $16, then the monopolist should:
A. leave its output and price unchanged. B. increase its output. C. decrease its output. D. lower its price.
A group of producers who join forces to buy supplies and equipment and to market their output is a(n) ______
A) not-for-profit organization. B) S corporation. C) producer cooperative. D) sole proprietorship. E) cottage industry.
Refer to the scenario above. Which of the following is likely to be true in this case?
A) A unique Nash equilibrium will occur. B) A socially inefficient equilibrium will occur. C) Multiple equilibria will occur. D) A dominant strategy equilibrium will occur.
Proprietors' income includes all of the following except
a. the income of unincorporated businesses. b. the income of partnerships. c. the income of sole proprietorships. d. the income of all businesses - incorporated and unincorporated .