According to the above figure, if steel mills are charged an effluent fee in order to bear the cost of pollution, what happens to the equilibrium price and equilibrium quantity?
A) They are unchanged.
B) They change from P1 and Q1 to P2 and Q2.
C) They change from P2 and Q2 to P1 and Q1.
D) The equilibrium price increases from P1 and P2, but the equilibrium quantity is unchanged.
B
Economics
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If an individual's opportunity cost of commute is $300 per month and his monthly commuting time is 60 hours, his opportunity cost of time is:
A) $10 per hour. B) $5 per hour. C) $30 per hour. D) $60 per hour.
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________ natural monopolies is a commonly used, potential solution to the problems presented by natural monopolies
A) Breaking up firms that are B) Regulating C) Outlawing price discrimination by D) Refusing to grant patents to E) Giving incentives to firms to become
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