When a polluter has to bear the full social cost of their actions, they will
A) weigh the costs and benefits of each potential action and might decide to not stop polluting by paying a fine.
B) go out of business since pollution abatement is expensive.
C) will always decide to reduce the amount of pollution by reducing the quantity they produce.
D) increase the price of the product and the quantity produced to pay for the additional costs.
A
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The market reliably allocates workers among jobs based on their attitudes toward risk, placing workers more willing to bear risk in riskier jobs
Indicate whether the statement is true or false
In the short run when output is zero, total cost is:
a. equal to total variable cost. b. greater than total fixed cost. c. equal to total fixed cost. d. less than total fixed cost. e. less than total variable cost.