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1.) when moving along a production possibilities curve, the opportunity cost of society of getting more of one good A.) Is constant B.) Is measured in dollar terms C.) Is measured by the amount of the other good that must be given up D.) Usually decreases 2.) which of the following is true if...

When moving along a production possibilities curve, the opportunity cost to society of getting more of one good A.) Is constant B.) Is measured in dollar terms C.) is measured by the amount of the other good that must be given up D .) Usually decreases

1.) The socially optimal quantity of pollution occurs where: A.) the marginal social benefit of pollution is equal to the marginal social cost of pollution. B.) the marginal social benefit of pollution is greater than the marginal social cost of pollution. C.) the marginal social...

1.) What type of externality (positive or negative) is described in each of the following examples? Is the marginal social benefit of the activity greater than or equal to the marginal benefit to the individual? Is the marginal social cost of the activity greater than or equal to the marginal...

You are advising the government on how to pay for national defense. There are two proposals for a tax system to fund national defense. Under both proposals, the tax base is an individual’s income. Under proposal A, all citizens pay exactly the same lump-sum tax, regardless of income. Under...

" In the long run, there is no difference between monopolistic competition and perfect competition." True, or False or ambigulous? Discuss the statement with respect to the following: A.) The price charged to consumers B.)The average total cost of production C.) The efficiency of the market...

United and Air "r" Us are the only two airlines operating flights between Collegeville and Bigtown. That is, they operate in a duoply. Each airline can charge either a high price or a low price ticket. The accompying matrix shows there pay off in profits per seat (in dollars) for any choice that...