Purchasing power parity suggests that the exchange rate between two currencies reflects differences in the overall price levels in the two countries

Refer to the scenario above. What is the equilibrium outcome in this case?

A) Both firms will dump their waste into the river. B) Neither of the firms will dump its waste into the river. C) Firm 1 will dump its waste into the river, while Firm 2 will not dump its waste. D) Firm 2 will dump its waste into the river, while Firm 1 will not dump its waste.

Demand is a schedule that shows

A. how much income it takes to afford various quantities of a good. B. a set of possible prices for a good and the quantities of the good that will be purchased at each of those prices. C. the relationship between the cost of producing a good and the price that sellers will charge. D. how population changes will affect the amount of a good that is needed.