The marginal social cost of air quality increases as air quality increases. If the dirtiest production process would create 700 tons of pollutants, then
a. eliminating the first 20 tons of pollution is cheaper than eliminating the last 20 tons
b. eliminating the last 20 tons of pollution is cheaper than eliminating the first 20 tons
c. more damage will be done by the first 20 tons of pollution than by the last 20 tons
d. more damage will be done by the last 20 tons of pollution than by the first 20 tons
e. the optimal level of air quality is to reduce pollution by 700 tons
A
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A government that wants to encourage technological advances can do so most directly by ______.
a. improving health care delivery b. encouraging saving c. sponsoring basic research d. building infrastructure
How much money to hold is an application of the:
A. cost-benefit principle. B. scarcity principle. C. principle of increasing opportunity cost. D. principle of comparative advantage.