Major U.S. exports include automobiles and aircraft
Indicate whether the statement is true or false
True
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Where pollution is concerned, if an automobile driver considers only the internal costs of his actions, he is apt to
A) use resources very carefully and in small quantities. B) garage his car and drive very seldom. C) be making a positive contribution to the greater community. D) drive too much and use up more scarce resources than he would if he had to cover all his costs.
Suppose the market price is $5, marginal cost is $4, and average total cost is $2. The perfectly competitive firm in that market is
A) earning $3 in economic profits per unit of output and is not maximizing profits. B) earning $2 in economic profits per unit of output and is maximizing profits. C) earning $1 in economic profits per unit of output and is not maximizing profits. D) none of the above: Insufficient information is given.