Which one of the following would not increase recycling rates?
a. Technological lock-in
b. A tax on virgin resources
c. Pay-by-the-bag garbage programs
d. Government procurement of recycled materials
e. Increased royalty payments for extraction of resources
Ans: a. Technological lock-in
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The relative price of a textbook is
A) the money price of the textbook divided by the money price of some other good. B) the price of the textbook compared with what students think it should cost. C) the amount it cost to make the textbook. D) what the author earned for writing the textbook.
Suppose the price of crude oil used to produce gasoline rises significantly. At the same time, consumers purchase hybrid cars in great numbers. In the market for gasoline, demand shifts to the ________ and supply shifts to the ________
A) left, left B) left, right C) right, left D) right, right