The marginal cost curve is:
A. upsloping because of increasing marginal opportunity costs.
B. upsloping because successive units of a specific product yield less and less extra utility.
C. downsloping because of increasing marginal opportunity costs.
D. downsloping because successive units of a specific product yield less and less extra utility.
Answer: A
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The Lorenz curves in the above figure imply that
A) income is distributed more unequally than wealth. B) wealth is distributed more unequally than income. C) both wealth and income are distributed equally. D) both wealth and income are distributed at the same level of inequality.
Mandating clean technology, cap-and-trade, and taxes are tools that government can use to limit pollution
Indicate whether the statement is true or false