Based on this model, if the government uses a uniform standard
Suppose that two firms, X and Y, face the following abatement costs:
MACX = 1.2AX, MACY = 0.3AY
TACX = 0.6AX2 TACY = 0.15AY2
Further assume that the combined abatement standard is 40 units for both firms.
a. the total abatement cost for firm X is $24
b. the total abatement cost for firm Y is $12
c. the combined total abatement cost for both firms is $1,200
d. the combined total abatement cost for both firms is $300
d. the combined total abatement cost for both firms is $300
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Which of the following is FALSE about services trade for India and China?
A) China exports more services than India does. B) India has a trade surplus in services. C) China has a trade surplus in services. D) India trades primarily information services and other business services.
According to economists, one of the signs of an unhealthy economy is a(n)
A. rising labor productivity. B. increasing real GDP. C. declining real GDP. D. declining unemployment.