In the circular flow diagram, ________ supply the factors of production, and ________ goods and services

If society allows firms to freely pollute the environment, then which of the following is true?

a. The efficient output level can be achieved by giving firms a subsidy for the pollution they generate. b. Market equilibrium output will be too high relative to the efficient output level. c. Market equilibrium output will be too low relative to the efficient output level. d. Market equilibrium output will be equivalent to the efficient output level.

Stephanie has decided to eat lunch between classes. She has ranked her choices, from highest to lowest as, (1 ) turkey sandwich, (2 ) tuna sandwich, (3 ) slice of cheese pizza, (4 ) cheeseburger. The opportunity cost of the eating turkey sandwich is

A) the combined value of the tuna sandwich, slice of cheese pizza and cheeseburger. B) the value of tuna sandwich, the next best choice. C) the value of the cheeseburger. D) zero since she has satisfied a want.