______ are end results that require action

Which of the following statements is true?

a. Emissions-trading is trading that allows firms to buy and sell the right to pollute. b. The Coase Theorem is the proposition that private markets can rarely ever achieve social efficiency. c. The free-rider problem refers to those who ride on public transit systems without paying. d. Government failure has never occurred in the United States.

The nation's largest cable TV company tested the effect of a price increase for premium sports channels. It increased prices 10% and found that the number of customers decreased by more than 40%. This means: a. the demand curve for the premium sports channels shifted to the right. b. the supply curve for premium sports channels shifted to the left

c. the demand for premium sports channels is elastic in this price range. d. the demand for premium sports channels is inelastic in this price range.