With regard to environmental programs and regulations, economic analysis indicates that
a. environmental quality is something that people value and, therefore, are willing to pay for.
b. people value many other things, but environmental values always come first.
c. income levels exert little impact on the demand for environmental quality.
d. the cost of an environmental policy matters little if the policy provides environmental health benefits.
A
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Explain why ensuring economic stability is an economics function of government?
What will be an ideal response?
Exhibit 10-5 A perfectly competitive labor market ? Quantity of Labor (thousands) Marginal Revenue Product Wage Rate 5 $25.00$ 5.00 10 20.0010.00 1515.0015.00 2010.0020.00 255.0025.00? ? In Exhibit 10-5, when the marginal revenue product is $20.00, firms should
A. continue hiring workers. B. stop hiring workers. C. start firing workers. D. pay a wage above $15.00 to its workers