« previous next »

Author Question: In drilling a new oil well in an existing oil field, the fact that output on existing wells is ... (Read 81 times)

sc00by25

  • Hero Member
  • *****
  • Posts: 596
on: Jul 1, 2018
In drilling a new oil well in an existing oil field, the fact that output on existing wells is reduced means that
 a. existing wells have negatively sloped marginal cost curves.
  b. existing wells and new wells are owned by different people.
  c. existing wells and new wells are owned by the same people.
  d. there is a discrepancy between private and social marginal costs.

Question 2

In perfect competition, environmental externalities need not distort the allocation of resources providing
 a. transactions costs are zero.
  b. average costs are constant for all output levels.
  c. firms install pollution control equipment.
  d. the government sets realistic pollution standards.


IAPPLET

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

For Gulf War veterans, lack of social support in the field is related to postwar depression. The ... For Gulf War veterans, lack of social support in the field is related to postwar depression. The ...
Deep-Sea Drilling Deep-Sea Drilling
. Calculate the net electric field at point B . Calculate the net electric field at point B
Calculate the net field at the location of q 3 Calculate the net field at the location of q 3
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
What is the contribution of studying wing spot in the field? What is the contribution of studying wing spot in the field?
Video: Gastrin (gastric emptying) & Secretin (buffering gastric acid)

For a complete list of videos, visit our video library