According to the Application, the average cost of abating one ton of CO2 emissions through the hybrid subsidy is $177, but a switch from coal to natural gas in power plants would reduce CO2 emissions at less than one-third the cost of the hybrid
subsidy. The increase in cost associated with the reduction of one ton of CO2 emissions (assuming that each unit of CO2 emissions is measured in tons) describes the economic concept of
A) marginal thinking. B) rational self interest.
C) using assumptions to simplify. D) ceteris paribus.
A
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Illegal immigrants make up about what percent of all construction workers?
A. 17% B. 5% C. 32% D. 53%
The marginal utility from the consumption of a good is equal to the
A) total utility divided by the quantity consumed. B) total utility divided by the price. C) change in total utility divided by the change in the quantity consumed. D) change in total utility divided by the change in price.
Which of the following would not be considered a fixed cost for a law firm?
a. paper for the photocopy machine b. property taxes c. insurance premiums d. license fees e. interest on loans
The term tax incidence refers to
A. widespread view that taxes (and death) are the only certainties in life. B. whether the demand curve or the supply curve shifts when the tax is imposed. C. the distribution of the tax burden between buyers and sellers. D.whether buyers or sellers of a good are required to send tax payments to the government.