Given that MEC(q) = 2q2, what can be inferred about the total cost of pollution as output increases?
A) The total cost of pollution is increasing.
B) The total cost of pollution is positive.
C) The total cost of pollution is growing at a positive rate.
D) The total cost of pollution is growing at an increasing rate.
E) The total cost of pollution is changing.
D
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An expected increase in the market price of oil in the coming year is likely to:
A) shift the supply curve of oil to the right in the current year. B) shift the demand curve for oil to the left in the current year. C) cause no changes in the demand and supply curves of oil in the current year. D) shift the supply curve of oil to the left in the current year.
An increase in the price of a product can sometimes represent an improvement in quality rather than inflation
a. True b. False Indicate whether the statement is true or false