Pollution and other negative externalities arise because
a. there are no enforceable property rights to open-access resources
b. legislators cannot agree on what to do about them
c. they are the price consumers are willing to pay for production of goods and services
d. private property rights to pollute are controlled by businesses
e. science cannot decide how to control them
A
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Supply chain is the entire vertical process of a firm
Indicate whether the statement is true or false
The vertical long-run aggregate supply curve reflects the fact that in the long run, an increase in the price level
a. will not alter the economy's maximum sustainable rate of output. b. will increase the economy's maximum sustainable rate of output. c. will reduce the quantity of goods and services purchasers will demand. d. will improve the overall efficiency of resource use.