Marginal utility can be
A. positive, but not negative.
B. positive, negative, or equal to zero.
C. decreasing, but not negative.
D. positive or negative, but not equal to zero.
Answer: B
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Quotas redistribute income from consumers to domestic producers
Indicate whether the statement is true or false
Firms would like to know the price elasticity of demand for their products because it helps determine the effect of price changes on the firms':
a. property taxes. b. competitors' profits. c. quantity supplied. d. revenues. e. total costs.
Agreeing with Keynesian economists, monetarists believe that the economy is subject to disequilibrium that must be corrected by government action
a. True b. False Indicate whether the statement is true or false
Compared to a fixed percentage reduction regulation, a tax on pollution encourages:
A. big firms to make larger reductions because they can more easily afford it. B. firms that can more cheaply reduce pollution to make larger reductions. C. firms to use the same technology to reduce pollution. D. firms to reduce pollution by the same percent.