When producers are hard to monitor and marginal costs differ across producers, ________ are an effective method to achieve efficient use of a ________
A) individual transferable quotas; public good
B) marginal private benefits; public good
C) individual transferable quotas; common resource
D) individual transferable quotas; excludable good
C
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In Bangladesh, the government guarantees rice farmers that it will buy rice at a specific price. Explain the costs and benefits to farmers in good and bad harvest years
What will be an ideal response?
As the U.S. price level rises relative to price levels in other countries, U.S. _____
Fill in the blank(s) with the appropriate word(s).
When one country can produce a product at a ________ cost in terms of other goods, that country is said to have a(n) ________ advantage.
A. higher; comparative B. higher; absolute C. lower; comparative D. lower; absolute
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. Initially after the payroll tax is imposed, the difference in the firm's cost per unit of labor and the workers' take home pay is ________ per hour.
A. $2 B. $3 C. $5 D. $7