As you move rightward on a marginal cost of abatement curve, emissions are
A) falling, and the cost of eliminating the marginal unit falls.
B) rising, and the cost of eliminating the marginal unit falls.
C) falling, and the cost of eliminating the marginal unit rises.
D) rising, and the cost of eliminating the marginal unit rises.
E) rising, and the cost of eliminating the marginal unit is constant.
B
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Which of the following is not a consequence of minimum wage laws?
A) Employers will be reluctant to offer low-skilled workers jobs with training. B) Some workers benefit when the minimum wage is increased. C) Producers have an incentive to offer workers non-wage benefits such as health care benefits and convenient working hours rather than a higher wage. D) Low-skilled workers are hurt because minimum wage reduces the number of jobs providing low-skilled workers with training.
Increases in long-run average cost that result from output increases is
A) the law of diminishing marginal product. B) economies of scale. C) constant returns to scale. D) diseconomies of scale.