The legal system imposes large financial penalties on firms caught violating Environmental Protection Agency guidelines. The EPA's standards program is thus an example of a
a. market-based approach to reducing pollution.
b. system of emissions taxes.
c. system of emissions permits.
d. direct-control system enforced through the courts.
d
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Are all goods economic goods? Are all economic goods also goods? Explain
What will be an ideal response?
Profit per unit is maximized when the difference between ________ and ________ is at a maximum.
Fill in the blank(s) with the appropriate word(s).
In the United States, the government regulates business in its role as a "referee." Which of the following is not among the laws regulating the interaction between households and businesses?
A. Businesses must follow certain rules about workplace safety, minimum wages, and overtime rules. B. Businesses cannot meet with other businesses to agree on prices they will charge. C. Businesses are required to produce certain goods, called public goods, for the government. D. In some businesses, in some states, employees must join a union in order to work at certain jobs.
Lily has $10 to spend each week on fish and chicken. Fish costs $2 a serving and chicken costs $3 a serving. The table shows Lily's marginal utilities of fish and chicken. Lily will consume ________ servings of chicken and ________ of fish each week
A) 4; 0 B) 1; 3 C) 0; 5 D) 2; 2