Suppose a new market for tradable pollution permits is created. As long as there is a free market for the pollution rights, the final allocation will be __________ , regardless of the initial allocation of permits

Under an upward sloping supply curve for land, the economic rents to land ________ as the demand for land shifts rightward

A) decrease B) increase C) remain the same D) We do not have enough information to answer this question.

One of the strongest reasons that oligopolies exist is due to

A) the homogeneity of their products. B) marginal cost pricing. C) lowest cost production. D) economies of scale.