Individuals play ____ in causing pollution
a. almost no role
b. a large but decreasing role
c. a major role
d. a reconstructive role
c
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Under a marginal cost pricing rule, a natural monopoly
A) makes a reasonable profit. B) makes an economic profit. C) earns accounting profits, but breaks even in economic terms. D) incurs an economic loss. E) makes a normal profit, but it cannot be determined whether or not it makes an accounting profit.
Refer to Table 11-1. Diminishing marginal returns sets in when the ________ worker is hired
A) 2nd B) 3rd C) 4th D) None of the above; the production function displays increasing marginal returns.
The profits from a U.S.-owned Burger King in France are included in the U.S. ________ and the French ________
A) GDP; GNP B) GDP; GDP C) GNP; GDP D) GNP; GNP
The supply curve of a producer, whose costs vary continuosly with output will be:
a. a straight line vertical to the output axis. b. a straight line horizontal to the output axis. c. the positively sloped portion of the marginal cost curve. d. the negatively sloped portion of the marginal cost curve.