The U.S. federal budget is determined exclusively by Congress
a. True
b. False
Indicate whether the statement is true or false
False
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The ABC Nail Company has entered into a collusive agreement with the other firm in the industry, the DC Nail Company. What occurs in the nail industry if ABC decides to cheat on the agreement?
A) ABC lowers the price of its nails. B) The total industry output increases. C) The total profits in the nail industry will decrease. D) All of the above answers are correct.
According to economic analysis, the optimal quantity of pollution exists at the point at which the
A) total benefit of pollution control is equal to the total cost. B) marginal benefit of pollution control is equal to the marginal cost. C) level of pollution is at zero. D) level of pollution is acceptable to the society.