The marginal cost curve of pollution abatement
A) slopes upward because of the law of diminishing product.
B) slopes upward because firms will maximize profits.
C) slopes downward because of the law of diminishing marginal utility.
D) slopes downward because of the law of diminishing returns.
A
You might also like to view...
The opportunity cost of holding money instead of an interest earning asset is the
A) inflation rate minus the real interest rate. B) inflation rate. C) real interest rate. D) nominal interest rate. E) inflation rate minus the nominal interest rate.
Suppose the economy is self-regulating, the price level is 150, the quantity demanded of Real GDP and the quantity supplied of Real GDP in the short run both equal $4.3 trillion, and the quantity supplied of Real GDP in the long run is $4.1 trillion. Given all of this information, we can conclude that the economy ____________ in short run equilibrium, and that the price level in long run
equilibrium will be _____________ than 150. A) is not; less B) is; more C) is; less D) is not; more