If firms pollute when they produce:
a. marginal social cost equals marginal private cost.
b. marginal private cost exceeds marginal social cost.
c. marginal social cost exceeds marginal private cost.
d. marginal social cost equals marginal external cost.
c
You might also like to view...
The oversimplified multiplier formula assumes that the
A. level of consumption spending is fixed. B. price level is fixed. C. government spending is fixed. D. net exports depend on income.
A model in which workers won't be concerned about the possibility of being fired if they don't work hard, because their wage is so low, is called
A) a cost—benefit model. B) a job—stress model. C) a gift—exchange model. D) a shirking model.
Joe's income is $500, the price of food (F) is $2, and the price of shelter (S) is $100. Which of the following bundles is in Joe's opportunity set?
A) 50 units of food, five units of shelter B) 200 units of food, two units of shelter C) 100 units of food, one unit of shelter D) 150 units of food, three units of shelter
In 1860, the Republican Party formed a coalition of anti-slavery voters that elected Abraham Lincoln to the presidency. Members of this coalition included all of the following groups except:
a. Northwestern farmers. b. Irish and German immigrants. c. Producers who were economically linked by the Northern Gateway. d. Large property owners in New Mexico and Utah.