When a negative externality exists in a market, the cost to producers
a. is greater than the cost to society.
b. will be the same as the cost to society.
c. will be less than the cost to society.
d. will differ from the cost to society, regardless of whether an externality is present.
c
Economics
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Given the equations for demand and supply: Qd = 48 ? 4P and Qs = 4P ? 16, respectively, the market is in equilibrium when the quantity bought and sold is:
A. 24. B. 32. C. 16. D. 8.
Economics
As of June 2013, after two 70-cent increases in recent years, the federal minimum wage was
A. nearly $9.00 per hour. B. $5.15 per hour. C. $5.85 per hour. D. $7.25 per hour.
Economics