If the United States and other developed nations pay the cost of reducing public emissions, developing nations such as China could benefit from the reduction while not contributing to it.
In this sense, one can think of reducing carbon emissions as being like a
A) quasi-private good. B) private good.
C) quasi-public good. D) public good.
Question 2
Suppose that the price of a money clip increases from 0.75 to 0.90 and quantity supplied rises from 8,000 units to 10,000 units. Use the midpoint formula to calculate the price elasticity of supply.
A) 1.22 B) 1.0 C) 0.82 D) 0.07
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