Fracking, a technique for breaking up (or fracturing) rock deep under the earth to release natural gas, has
a. increased the price of natural gas.
b. decreased the supply of natural gas.
c. contaminated natural gas so it is no longer a "clean" fuel.
d. decreased the price of natural gas.
D
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An economist is told that concentration in the cement industry has increased. He can safely conclude that
a. cement production must have fallen in the industry. b. competition in the cement industry has decreased. c. there are fewer cement producers than before. d. All of the above are correct.
Giving states control of nonpoint source pollution
a. has no advantages b. can be problematic because states generally have inadequate data to assess the problem c. is advantageous because it results in greater consistency of control d. was not the original intent of the 1987 legislation
Find the cost effective allocation of abatement across the two sources that also satisfies the 40 percent aggregate abatement level. Support with calculations.
Suppose that there are only two stationary sources in a given air quality region. The first source has been in existence for several years, while the second source is new. The following functions represent marginal abatement costs (MAC) for each polluting source: MACEX = 10.0 + 0.7A EX, MACN = 9.2 + 0.5A N, whereAEX is the percentage abatement level for the existing source, and AN is the percentage abatement level for the new source. Assume that the aggregate abatement standard (i.e., for the region as a whole) is set at 40 percent and that the two firms’ current abatement levels areAEX = 10 and AN = 30.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C