If orange juice and apple juice are substitutes, an increase in the price of orange juice will shift the demand curve for apple juice to the left

When total utility is at a maximum, marginal utility is zero.

a. true b. false

What is the rationale behind a marketable emission allowance scheme?

A) to discipline polluting firms by specifying the maximum amount of emissions allowed and giving them permits to pollute up to their allowance B) to provide firms with the incentive to consider less costly alternatives to pollution reduction by making firms pay for the right to pollute beyond their specified allowance C) to raise revenue for the government through the sale of emission permits and at the same time set an emissions target D) to create a market for externalities: the scheme brings together buyers and sellers of marketable permits