Production of a good produces pollution that is very damaging with each additional unit. A monopoly facing a very elastic demand curve will most likely produce
A) less than the social optimum of the good.
B) more than the social optimum of the good.
C) the social optimum of the good.
D) no externality.
B
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The table above gives some of the balance of payments accounts of the United States in 2019
a. What is the current account balance? b. What is the capital and financial account balance? c. What is the official settlements account balance? d. What is the balance of all account payments?
What is the most effective way for consumers to make their desires known to businesses?
What will be an ideal response?
The two main economic criticisms about monopolies are that they are ______.
a. unregulated and illegal b. weak and small c. unfair and inefficient d. violent and aggressive
If the price of a normal good rises, the opportunity cost of that good rises and households buy less of the good.
Answer the following statement true (T) or false (F)