When using the traditional command-and-control approach to environmental regulation, the government attempts to:
a. set a minimum requirement and then allows the firm to determine the most efficient method for achieving this requirement.
b. determine the most efficient method for different industries.
c. make allowances for differences across industries and between firms.
d. set standards that are applicable to all situations and does not recognize unique circumstances.
d
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Suppose in the automobile industry with free entry and exit, the marginal cost is constant at $5,000, two identical manufacturers are currently producing 1,000 cars each and earning zero economic profit
If the equilibrium price is $20,000, then what is the fixed cost for each manufacturer? A) $20,000,000 B) $15,000,000 C) $5,000,000 D) $10,000,000
The principal of a loan is the:
A. set of rules and conditions borrowers agree to when taking out a loan. B. original amount of the loan. C. set of rules and conditions savers agree to when agreeing to let someone borrow their money. D. original amount that people want to borrow.