Refer to Scenario 5.5. The expected cost to the firm if it does not fix the car is
A) $0.
B) $24 million.
C) $7.9 million.
D) $2 million.
E) $3.6 million.
C
Economics
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Carmen listens to opera music every evening when she gets home from work. Carmen loves listening to opera, but her neighbor Paul, who can also hear the music, hates it. If Paul is the only person besides Carmen who can hear the music, then Carmen's music generates:
A. neither a positive nor a negative externality. B. a positive externality. C. a negative externality. D. both a positive and a negative externality.
Economics
Refer to the graph shown.
As a result of a tariff T imposed on speedboats, the price that foreign suppliers will receive probably will be:
A. P1. B. P2. C. P3. D. P4.
Economics