The marginal benefit of pollution abatement is represented by

Which of the following situations will arise in the domestic market following the imposition of an import quota?

A) imports decrease, domestic production decreases, prices increase B) imports increase, domestic production decreases, prices decrease C) imports decrease, domestic production increases, prices increase D) imports decrease, domestic production increases, prices decrease

Jones can brew 10 gallons of lager or 5 gallons of stout every three months, or any linear combination in between. Which statement below is true?

A) It costs Jones 5 gallons of stout for every 10 gallons of lager brewed. B) It costs Jones 1 gallon of stout for every 2 gallons of lager brewed. C) It costs Jones 1/2 gallon of stout for every 1 gallon of lager brewed. D) All of the above are true.