Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. For Alpha, the tax is ________ than the marginal benefit it gets from polluting, and for Beta, the tax is ________
than the marginal benefit it gets from polluting.
A. lower; higher
B. higher; lower
C. higher; higher
D. lower; lower
Answer: C
Economics
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The above figure shows the U.S. market for 1 carat diamonds. With free trade, Americans buy ________ diamonds and pay a price of ________ per diamond
A) 300,000; $4,000 B) 500,000; $4,000 C) 700,000; $3,000 D) 300,000; $3,000 E) 900,000; $2,000
Economics
Describe the political marketplace. Who are the participants, what do they do, and what is a political equilibrium?
What will be an ideal response?
Economics