A firm in short-run equilibrium always earns positive profits if
a. AC > P > AVC.
b. AR > AC.
c. MR = MC.
d. AC > MC.
b
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The entrepreneur
A. runs his or her own business and risks his or her own money. B. does not necessarily run her or his own business nor risks her or his own money. C. runs his or her own business, but does not necessarily risk his or her own money. D. does not necessarily run her or his own business, but does risk her or his own money
Air pollution is more dangerous to the public, but toxic waste generates more public uproar. Why?
a. Those exposed to the health hazard posed by the toxic waste site are usually less sure that exposure has occurred. b. Those exposed to the health hazard posed by the toxic waste site are usually more sure that exposure has occurred. c. Fewer people cause air pollution than toxic waste. d. Fewer people are affected by air pollution than by toxic waste. e. Toxic waste causes more illness and death than air pollution does.
Subsidizing firms that pollute will reduce pollution in the long run
a. True b. False Indicate whether the statement is true or false
The growth of total output in the United States since 1929 has been:
A. slow and steady. B. rapid but with fluctuations. C. rapid and smooth. D. slow with fluctuations.