In a market where one unit of labor produces one unit of output, consumers prefer
A) a competitive labor market and a monopoly output market.
B) a competitive output market and a monopoly labor market.
C) a monopoly output market and a monopoly labor market.
D) None of the above—they are indifferent between A and B.
D
Economics
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Infant industry protection requires
A) a positive technological externality. B) a national security externality. C) time limited protection. D) Both A and B. E) Both A and C.
Economics
According to the text, if a policy is designed to move a production process toward efficiency when pollution exists, the best tax is a
A. proportional income tax. B. progressive income tax. C. sales tax. D. lump sum tax on pollution.
Economics