Which of the following is an example of a durable good?
a. a cowboy
b. a cherry pie
c. a newspaper
d. a hand-held calculator
e. a pencil
D
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Total health care spending in the United States was over $2.6 trillion in 2013
Indicate whether the statement is true or false
Free ridership is associated with market failure, resulting in lower than efficient prices and higher than efficient quantities
Indicate whether the statement is true or false
Proponents of deficit reduction argue that the principal effect will be an
a. outward shift of the aggregate supply curve. b. inward shift of the aggregate supply curve. c. outward shift of the aggregate demand curve. d. inward shift of the aggregate demand curve.
If a uniform abatement standard is used by the regulatory authority, what would be the dollar values of TAC and MAC for each source?
Suppose two point sources are discharging phosphorus into Wisconsin’sFox River and face the following abatement costs for this pollutant: Point Source 1: TAC1 = 500 + 0.35(A1)2 MAC1 = 0.7A1 Point Source 2: TAC2 = 750 + 1.05(A2)2 MAC2 = 2.1A2, where A1 and A2 represent the abatement of phosphorus effluents in pounds by Source 1 and Source 2, respectively, and TAC and MAC are measured in hundreds of dollars. Assume that the state environmental authority has set the total maximum daily load (TMDL) for the Fox River. To achieve this limit, 40 pounds of phosphorus must be abated across the two point sources. Use this information to answer the following questions.