A chemical factory and a fishing club share a lake. Producing chemicals creates water pollution that harms the fish. The marginal social cost, private marginal cost, and marginal social benefit from producing chemicals are in the figure above
If polluting is legal and no one owns the lake into which waste is dumped, then the amount of chemicals produced each week will be A) 0 tons.
B) 4 tons.
C) 8 tons.
D) None of the above answers is correct.
C
Economics
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If the price of a Brita water filtration system increases and the quantity demanded of bottled water increases, then these two goods are
A) substitutes. B) complements. C) normal goods. D) inferior goods. E) inelastic goods.
Economics
In trying to fix the U.S. economic system after the Great Recession, which of the following measures was not pursued by the U.S. government:
a. Lowing personal income taxes b. Increasing government spending c. Increasing the U.S. monetary base. d. All of the above were pursued by the U.S. government.
Economics