In the figure above, if no one owns the lake, the market does what?
A) overproduces 120 tons of pesticide
B) underproduces 120 tons of pesticide
C) overproduces 60 tons of pesticide
D) produces the efficient quantity of pesticide
A
You might also like to view...
Which of the following affects the magnitude of the multiplier?
i. marginal propensity to consume ii. marginal propensity to invest iii. marginal tax rate A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
In contrast to richer countries, most residents of poorer nations will have
a. only some primary education. b. primary and secondary education. c. higher education. d. higher levels of productivity.
Tony Stark and Steve Rogers decide to build a new gym, rather than lift weights at home. This decision
A. decreases nominal GDP. B. decreases real GDP. C. increases GDP. D. has no impact on GDP.
Referring to Figure 4.1, the increase in output from point B to C is greater than the increase in output from point C to D because 
A. better workers are usually hired after the earlier ones. B. more workers always produce more. C. eventually workers are up against the fact that there are fixed inputs and more workers do not add as much. D. a small number of workers cannot take as good advantage of the division of labor as a larger number.