Table 28.1Reduction in Emissions (in tons)MC to Reduce Emissions by Steel PlantMC to Reduce Emissions by Paper Plant1$400$20025002803600320Refer to Table 28.1. Suppose the government allows these two firms to trade pollution permits. The total cost to reduce emissions by a total of two tons could be as low as

Refer to the table above. If the market supply of labor per week when the wage rate is $100 is 125 hours, labor supplied by Jim per month at the wage rate is:

A) 12 hours. B) 30 hours. C) 50 hours. D) 75 hours.

Under which of the following circumstances would the government be running a deficit?

A) G = $5 trillionT = $5 trillionTR = $1 trillion B) G = $5 trillionT = $7 trillionTR = $1 trillion C) G = $7 trillionT = $7 trillionTR = $0 D) G = $7 trillionT = $10 trillionTR = $3 trillion