If ZipCo's marginal revenue product curves slope downward, what can we conclude about the structure of the market in which ZipCo sells its product?
a. The firm is a price searcher because price is greater than marginal revenue.
b. The firm is a price taker because price is equal to marginal revenue.
c. The firm is a price searcher because the price of each resource is constant.
d. The firm is a price taker because the price of each resource is constant.
e. Nothing.
Question 2
Which of the following helps explain why pesticides account for much of the water pollution in the United States?
a. Pesticide regulations were repealed during the Reagan administration.
b. Pesticide regulations are often administered by state environmental protection agencies, not the federal Environmental Protection Agency.
c. Pesticide regulations are administered by the federal Environmental Protection Agency, not by state agencies.
d. Pesticide regulations are often administered by state agricultural departments rather than environmental protection agencies.
e. Pesticide regulations are often administered by state environmental protection agencies rather than agricultural departments.
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