For a competitive firm, the value of the marginal product:
A. increases for each additional worker.
B. remains constant across workers.
C. is zero when profits are maximized.
D. decreases for each additional worker.
Answer: D
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Generally, expenses on a truck are a large part of a consumer's budget, so the demand for trucks is more likely to be
a. elastic b. inelastic c. unit elastic d. perfectly elastic
In which of the following externality situations would it be most likely that voluntary agreements could be used to internalize an externality?
A) littering on highways B) overharvesting of alligators in Louisiana C) poaching of elephants in Africa D) trees of one neighbor blocking a view of another
The best available technology (BAT)
a. is the treatment technology that makes attaining the MCL feasible b. has no relationship with the MCL or the MCLG c. is the required technology that must be used by public water suppliers d. is part of the secondary drinking water standards
If the United States CPI was 37 in 1973 and in 2016 it was 215.3. By what percent did prices increase in the United States between 1973 and 2016? (Not the annual rate of change, but total.)
A. 5 B. 482 C. 545 D. 48