Refer to Table 2-10. What is Fred's opportunity cost of making a unicycle?
A) 1/3 of a pogo stick B) 1/2 of a unicycle C) 3 pogo sticks D) 1.3 pogo sticks
C
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Of the following, which is NOT a regional trade agreement?
a. the World Trade Organization b. the European Union c. the North American Free Trade Agreement d. the Central American Free Trade Agreement
The Black Ash Steel Company's plant belches large quantities of noxious fumes and black ash into the air. Residents in the surrounding area have higher medical bills because of Black Ash's pollution
If the firm is forced to pay the social costs of its production A) the amount of steel it produces will increase in order to pay the additional costs. B) the price it charges for its steel will decrease. C) its supply curve will shift to the right. D) it will produce less and charge more for its steel.