Last year, 1,000 cases of bottled water were sold at $5; this year, 1,200 cases were sold at $7 . These data could be explained by the
a. supply and demand curves shifting to the right.
b. supply and demand curves shifting to the left.
c. supply curve shifting to the left, with no change in demand.
d. demand curve shifting to the right, with no change in supply.
D
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Emma owns a firm that produces umbrellas. Currently, Emma produces 2,500 umbrellas a day. Emma cannot produce more umbrellas in a day unless she purchases another machine or else hires more workers. Emma is ________ efficient
A) cost B) technologically C) economically D) capital and labor
Suppose there are three power-generating plants, each of which has access to 5 different production processes. The table below summarizes the cost of each production process and the corresponding number of tons of smoke emitted each. Process(smoke/day) A(4 tons/day) B(3 tons/day) C(2 tons/day) D(1 ton/day) E(0 tons/day) Cost to Firm X ($/day) $500$514$530$555$585 Cost to Firm Y ($/day) $400$420$445$480 $520Cost to Firm z ($/day) $300$325$360$400 $550For all three firms, the marginal cost of pollution abatement is:
A. increasing B. decreasing C. decreasing and then increasing D. constant