Consider the two graphs above. Suppose that firms are able to use inventories as collateral for low-interest loans. This would ________ the desired level of inventories, as depicted in graph ________

For a perfect first-degree price discriminator, incremental revenue is

A) greater than price if the demand curve is downward sloping. B) the same as the marginal revenue curve if the firm is a non-discriminating monopolist. C) equal to the price paid for each unit of output. D) less than the marginal revenue for a non-discriminating monopolist.

Define the following terms and explain their importance to the study of economics

a. greenhouse gases b. externality c. emissions permits d. known reserves