All points above a given indifference curve are
A) inferior to any point on the indifference curve.
B) preferred to any point on the indifference curve.
C) definitely not affordable.
D) Both answers Band C are correct.
B
Economics
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What is a cap-and-trade policy? (Be certain to mention marketable permits.) Suppose there are two firms in an area, each emitting tons of sulfur
The government decides on a target level of 200 tons of sulfur, and gives each firm a permit to emit 100 tons of sulfur. Suppose Firm A is very efficient and can reduce pollution by 100 tons with an abatement cost of $500. Firm B has an older plant, so it will cost Firm B $1,000 to reduce emissions by 100 tons. What will occur with marketable permits?
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What does marginal cost measure?
What will be an ideal response?
Economics