Refer to the above table. What is the market quantity demanded at a price of $8?

The term "fixed cost" refers to the cost a firm incurs to produce a specific fixed quantity of output

Indicate whether the statement is true or false

Government regulators know that pollution is a problem in Cleveland. However, information on the social cost of this externality is difficult to come by

Which of the following statements best describes how this information problem might manifest itself? a. Well-intentioned regulators monitor a handful of polluting factors and are unable to determine how much they contribute to the problem. b. Well-intentioned regulators decide to shut down the plants and start government production in state-of-the-art factories. c. Well-intentioned regulators impose a collective tax that ends up reducing output beyond the optimal level of output. d. Well-intentioned regulators fail to do anything because they are afraid of doing the wrong thing.