Refer to the information provided in Figure 15.1 below to answer the question(s) that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm. 
Figure 15.1 Refer to Figure 15.1. From society's point of view, the efficient level of output is
A. 20 haircuts.
B. 23 haircuts.
C. 25 haircuts.
D. 30 haircuts.
Answer: C
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What would happen to the optimal amount of pollution if studies found dangerous effects of SO2 cause cancer and the government takes away subsidies to companies for cleaning up their pollution?
A. Uncertain B. Increase C. Stay the same D. Decrease
A chain saw manufacturer can make its chain saws safer by adding a titanium chain guard to its products. Adding the titanium chain guard costs $35 per chain saw
The manufacturer estimates that this will prevent 10 injuries for every 5,000 chain saws sold and that, on average, each injury causes $15,000 of harm. The injury cost per chain saw is A) $3.00. B) $30.00. C) $37.50. D) $40.00.
The assumption that regulation relentlessly seeks out deadweight loss and seeks to eliminate it is called the
A) social interest theory of regulation. B) capture theory of regulation. C) Coase theory of regulation. D) socially optimal theory of regulation. E) predatory theory of regulation.
The rarest migration pattern is for people to move permanently from
A) poor countries to richer countries. B) poor countries to other poor countries. C) rich countries to poor countries. D) rich countries to other rich countries.