Which of the following observations is true?
a. Environmental damage can be reduced to zero.
b. Pollution results from a price mechanism malfunction.
c. Charging those who emit pollution is not a way of dealing with pollution problems.
d. Public interest requires pollution be maintained at its free-market level.
b
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Refer to Figure 11-4. What happens to the average fixed cost of production when the firm increases output from 150 to 200?
A) It could rise or fall depending on what happens to total cost. B) It rises. C) It falls. D) It remains constant.
Consider an investment with the following payoffs and probabilities: State of the Economy Probability Return Stability .50 1,000 Good Growth .50 2,000 Determine the expected return for this investment
a. 1,300 b. 1,500 c. 1,700 d. 2,000 e. 3,000