?If a firm shuts down in the short run and produces no output, its total cost will be:
a. ?equal to only explicit costs.
b. ?equal to the fixed cost.
c. ?equal to the variable cost.
d. ?equal to the sum of implicit and explicit costs.
e. ?equal to zero.
Ans: b. ?equal to the fixed cost.
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The above figure shows the marginal benefit from pollution for two firms. If each firm receives a marketable permit to produce 25 units of pollution, which one of the following is most likely to happen?
A) Firm B will sell some pollution rights to firm A. B) Firm A will sell some pollution rights to firm B. C) Firm A will produce all 50 units of pollution. D) Both firms will produce 25 units of pollution.
Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 
Figure 7.11
Refer to Figure 7.11. The slope of the isocost line is
A. -2. B. -1/2. C. 1/2. D. 2.