Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year. His opportunity cost at graduation was and eight years later was

A large corporation's profit objective may not be profit or wealth maximization, because

A) stockholders have little power in corporate decision making. B) management is more interested in maximizing its own income. C) managers are overly concerned with their own survival and may not take all prudent risks. D) All of the above

To make a market efficient in the presence of a negative externality, a tax could be imposed that is equal to the marginal

a. social cost b. private benefit c. social cost minus marginal private cost d. social cost minus marginal private benefit e. private benefit minus marginal social benefit