Author Question: If your lawn and shrubs were killed by the fumes from a nearby factory and you hired a lawyer to sue ... (Read 82 times)

Alygatorr01285 · **on:** Jun 29, 2018

If your lawn and shrubs were killed by the fumes from a nearby factory and you hired a lawyer to sue the polluting firm, your legal fees would be considered

A) external costs.
B) transactions costs.
C) the social costs of pollution.
D) sunk costs.

Question 2

Refer to Figure 1A.1. Assume that the graph in this figure represents the demand and supply curves for walnuts. An advance in production technology which makes harvesting walnuts less time consuming would be represented by a shift from

A) Demand 1 to Demand 2.
B) Demand 2 to Demand 1.
C) Supply 1 to Supply 2.
D) Supply 2 to Supply 1.