Refer to Figure 4-1. Arnold's marginal benefit from consuming the second burrito is
A) $1.00. B) $1.50. C) $2.00. D) $4.50.
C
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In a capitalist country most resources are owned by
A. business firms. B. households. C. the government.
Two companies, Dirty Inc. and Filthy Inc., each of which has access to 5 different production processes, each of which has a different cost and produces a different amount of pollution. The daily costs of the processes and the number of tons of smoke emitted are shown in the table below.ProcessABCDE(smoke/day)(4 tons/day)(3 tons/day)(2 tons/day)(1 tons/day)(0 tons/day)Cost to Dirty Inc. ($/day)$100$200$380$740$1,460Cost to Filthy Inc. ($/day)$400$430$490$580$700 Suppose pollution is initially unregulated. If the City Council requires each firm to reduce emissions by 50 percent, then the total cost to society of this policy will be ________ per day.
A. $360 B. $490 C. $380 D. $870