The demand for a productive resource, not for its own sake, but for use in the production of goods and services is called a ________

If two bundles are on the same indifference curve, then

A) the consumer derives the same level of utility from each. B) the consumer derives the same level of ordinal utility from each but not the same level of cardinal utility. C) no comparison can be made between the two bundles since utility cannot really be measured. D) B and C.

Based on this model, if the government uses a uniform standard

Suppose that two firms, X and Y, face the following abatement costs: MACX = 1.2AX, MACY = 0.3AY TACX = 0.6AX2 TACY = 0.15AY2 Further assume that the combined abatement standard is 40 units for both firms. a. the total abatement cost for firm X is $24 b. the total abatement cost for firm Y is $12 c. the combined total abatement cost for both firms is $1,200 d. the combined total abatement cost for both firms is $300