Refer to the table and information below. What is the total cost and total benefit of doing projects A, B, and C?
Assume that a government is considering a new social program and may choose to include in this program any number of four progressively larger projects. The marginal cost and the marginal benefits of each of the four projects are given in the table.
A. Total cost is $5 billion and total benefit is $7 billion
B. Total cost is $4 billion and total benefit is $7 billion
C. Total cost is $9 billion and total benefit is $12 billion
D. Total cost is $16 billion and total benefit is $20 billion
C. Total cost is $9 billion and total benefit is $12 billion
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Collective bargaining contracts between management and the union negotiators
A) also apply to the workers who are not members of the union. B) usually are settled only after a strike. C) cover wages only. D) cover wages and fringe benefits only.
Liability rules are laws that require party A to compensate party B for damages imposed.
Answer the following statement true (T) or false (F)