All of the following trends and characteristics of American population growth occurred from Independence to the Civil War except
(a) The size of the average family was increasing.
(b) Populations living in urban places increased.
(c) There was extensive settlement in rural areas.
(d) Growth was very rapid.
(a)
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Suppose the market demand curve is P = 40 - 2Q and the constant marginal cost of production is MC = 20. Which of the following is a valid expression for the collusion curve?
A) Q = 5 B) Q1 = 5 - Q2 C) Q1 = Q2 = 5 D) Q1 = 40 - Q2
In the multiple-polluter case for a pollution permit system, suppose Firm 1 and Firm 2 face marginal abatement cost functions of MAC1 = 4.5A1 and MAC2 = 2.25A2, respectively. If the government issues each firm tradeable pollution permits such that each has to abate 10 units of pollution, then, based on this allocation,
a. the two firms have no incentive to trade b. firm 1 has an incentive to buy a permit if the price is greater than $45 c. firm 2 has an incentive to buy a permit if the price is above $22.50 d. firm 2 will be willing to sell a permit if the price is above $22.50