If pollution is bad, why do we still use pollution-causing resources such as coal and oil to generate electricity?
A. The transaction costs of pollution is too low.
B. Pollution is only a private cost.
C. Governments lack the political will to enforce the use of pollution free resources.
D. The cost of using pollution free resources to generate power in many circumstances is much higher than generating that same power through conventional pollution-causing means.
Answer: D
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Monopolistically competitive firms increasing their advertising will definitely achieve which of the following?
A) shift their average total cost curve up B) shift their demand curve to the right C) increase their economic profit D) shift their demand curve to the right and shift their average total cost curve up
Current concern about Social Security is that
A) the fund is growing too rapidly and would trigger inflation. B) the fund might be depleted before long and might not be there for workers who retire later. C) the government is planning to phase out the program. D) none of the above