Which of the following criteria should be used to evaluate if government intervention in a market for the purpose of environmental protection is justified?
A) Is the intervention program economically efficient?
B) Does the intervention program reduce pollution to zero?
C) Does the intervention program maximize economic surplus?
D) Does the intervention program minimize environmental damage?
A
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Which of the following is a reason behind increase in household income and wealth inequalities in the U.S?
A. Decrease in international competition in the manufacturing sector B. Increase in the production of consumer durables during the 1990s C. Increase in manufacturing jobs D. Increase in robotic production
New firms will enter a monopolistically competitive market if
a. price is greater than marginal cost. b. marginal revenue is greater than marginal cost. c. marginal revenue is greater than average total cost. d. price is greater than average total cost.