One of the reasons why firms pollute air and water is that
a. air and water are often not priced.
b. managers desire to pollute.
c. air and water have no value to society.
d. managers are profit maximizers.
a
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A mother of three who receives $600 a month in total welfare benefits if she is not working, but who loses all those benefits and also pays 10 percent of her earnings to the tax collector if she takes a job paying $1000 a month, is being taxed on her
earnings at an effective marginal rate of A) 10 percent. B) 30 percent. C) 50 percent. D) 70 percent.
Caroline is an artist. She purchases canvas, paints, brushes, and accessories for $75. She sells one of her original paintings to an art gallery for $1,500, even though an art lover would pay $4,500 for that painting
How much value does Caroline add? A) $75 B) $1,425 C) $1,500 D) $4,425
BBQ to Go is a large fast food restaurant chain with franchises located throughout the United States. BBQ to Go's advertising will likely focus on which of the following?
A) promoting BBQ locations in a specific state B) promoting a successful BBQ to Go location in Denver, Colorado C) promoting the benefits of eating BBQ to Go sandwiches D) promoting a struggling BBQ to Go location in Denver, Colorado
Regulation that is based upon the cost of providing the good or service is known as
A) rate-of-return regulation. B) cost-of-service regulation. C) social regulation. D) deregulation.