The key explanation for the prevalence of waterway pollution is
a. the inclusion in production of all costs involving use of the waterway.
b. that there are private costs but no costs to society.
c. that waterways are often an open access, commonly owned resource.
d. that waterways are subject to the market's normal control procedures.
C
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One requirement for an industry to be perfectly competitive is that
A) there are no restrictions on entry into or exit from the market. B) there are multiple restrictions on entry into or exit from the market. C) there are many firms selling different products. D) sellers and buyers have imperfect information about prices. E) the many firms sell slightly different products.
If vouchers for a good or service given to consumers, then the supply curve ________ and the demand curve ________
A) shifts leftward; shifts leftward B) shifts leftward; shifts rightward C) shifts rightward; shifts rightward D) does not shift; shifts rightward E) shifts rightward; does not shift