According to economic analysis, the optimal level of pollution is
A. at the point at which the marginal benefits from pollution control are equal to the marginal cost.
B. at the point at which the marginal benefits of pollution control exceed the marginal cost.
C. at the point at which the marginal benefits of pollution control are less than the marginal cost.
D. always zero.
Answer: A
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Z is a normal good. The equilibrium price and quantity of Z in the year 2011 was $25 and 60 units, respectively. In 2014, the equilibrium price of Z had increased to $35 but the equilibrium quantity had decreased to 50 units
Other things remaining the same, which of the following could explain this change? A) Shift of the supply curve of Z to the left B) Shift of the supply curve of Z to the right C) Shift of the demand curve for Z to the left D) Shift of the demand curve for Z to the right
Wage rates in other markets are assumed constant along the labor supply curve for a particular labor market
a. True b. False
What do antitrust laws enable the government to do?
a. Break up large firms into smaller ones b. Acquire a controlling percentage of large firms c. Require firms to sell off profitable operations d. Block all mergers and acquisitions by foreign firms
The presence of adverse selection:
A. increases the efficiency of markets. B. reduces the efficiency of markets. C. makes the buyer less efficient and the seller more efficient. D. does not affect the efficiency of markets.