A chemical manufacturer dumps waste into a river, which harms owners of resorts downstream from the chemical factory. Which of the following best describes the situation?
a. The socially efficient level of output exceeds the chemical firm's privately optimal output level.
b. River pollution should be reduced until it is technologically impossible to reduce it further.
c. The firm's privately optimal output level exceeds the socially efficient level of output.
d. If the firm were forced to bear the external costs of dumping chemicals into the river, it would increase its production of output.
Question 2
A country with a strong bargaining power is likely to direct the terms of trade in its favor.
a. True
b. False
Indicate whether the statement is true or false
Diverse living organisms share common chemical features
The Los Angeles River
River Systems
Signal Transmission at a Chemical Synapse
Energy requirements of an uncatalyzed versus an enzymatically catalyzed chemical reaction
A Platypus swimming in Broken River, Eungella National Park, Queensland, Australia.