Why does it usually not make sense to reduce pollution to zero?
What will be an ideal response?
The marginal benefits from reducing pollution are likely declining while the marginal costs are usually rising. If pollution is reduced to zero, it will be very costly to reduce the last few increments of pollution with little benefit to society.
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In the model of monopolistic competition, trade costs between countries will cause domestic and foreign markets to have ________ prices, ________ quantities sold, and ________ profit levels
A) different; different; different B) identical; different; different C) different; different; identical D) identical; different; identical E) identical; identical; different
The usual shape for a labor supply curve is
a. horizontal b. vertical c. dependent on the particular industry d. downward sloping e. upward sloping