If the United States and other developed nations pay the cost of reducing carbon emissions from the atmosphere, developing nations such as India could benefit from the reduction while not contributing to it
In this sense, reducing carbon emissions is essentially a A) public good.
B) private good.
C) club good.
D) transactions good.
A
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Suppose the real interest rate increases from 4 percent to 6 percent. As a result,
A) governments decrease their demand for loanable funds. B) firms increase their demand for loanable funds. C) governments increase the supply of loanable funds. D) firms decrease the quantity demanded of loanable funds. E) governments decrease the quantity supplied of loanable funds.
Suppose a monopoly concrete contractor builds 20 driveways per month for $10,000 each. In order to increase sales to 21 driveways, the contractor must lower the price of driveways to $9,500. The marginal revenue of the 21st driveway is
A. $500. B. -$500. C. $9,500. D. $199,500.
If price lies above the minimum point on the ATC curve, in the short run the firm should ________ and in the long run it should ________.
A. shut down; exit the industry B. shut down; expand C. produce where MC = MR; expand D. produce where MC = MR; exit the industry
The profit-maximizing rule says that any seller will expand output up to the point
A. where marginal revenue equals price. B. where marginal revenue equals marginal cost. C. where marginal cost equals price. D. where marginal revenue is less than the price.