In the figure above, if no one owns the lake, what is the quantity of pesticide produced?
A) 300 tons per month
B) 240 tons per month
C) 180 tons per month
D) 360 tons per month
A
Economics
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Which of the following utility functions has the same MRS as U(q1,q2 ) = q1 q2?
A) q11/2 q21/2 B) q1 + q2 C) q11/2 + q21/2 D) (q11/2 + q11/2 )2
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The price elasticity of demand for food tends to be:
A. Higher in richer nations B. Lower in richer nations C. The same in rich and poor nations D. Unrelated to per capita wealth
Economics