In competitive markets, buyers
a. are price takers, but sellers are price setters.
b. are price setters, but sellers are price takers.
c. and sellers are price takers.
d. and sellers are price setters.
c
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If the MC of polluting decreased, then what would happen to the optimal level of pollution?
A. Stay the same B. Unsure C. Increase D. Decrease
Someone who is deemed irrational from an economic standpoint is someone who
a. voluntarily partakes in actions contrary to his personal preferences. b. voluntarily partakes in actions contrary to what society deems acceptable. c. voluntarily partakes in actions that the majority of consumers would not. d. sets prices at ninety-nine cents.
What is a brief definition of economics? What are the conditions that give rise to this definition?
Please provide the best answer for the statement.
In the Flint Hills area of Kansas, proposals to build wind turbines to generate electricity have pitted environmentalist against environmentalist. Members of the Kansas Sierra Club support the turbines as a way to reduce use of fossil fuel, but local chapters of the Nature Conservancy say they will befoul the landscape. An argument that supports the Sierra Club position is that that wind turbines:
A. are a way of solving a free rider problem. B. create a free rider problem. C. reduce negative externalities elsewhere in the economy. D. internalize negative externalities.