« previous next »

Author Question: If price-taking firms are required to install wet scrubbers on their chimneys to meet EPA ... (Read 106 times)

Sportsfan2111

  • Hero Member
  • *****
  • Posts: 585
on: Jun 30, 2018
If price-taking firms are required to install wet scrubbers on their chimneys to meet EPA regulations and their costs increase as a result, we would expect
 a. demand for the product to fall
  b. the market supply curve to shift to the left
  c. the long-run economic profit of individual firms in the industry to fall
  d. the short-run economic profit of individual firms in the industry to remain unchanged
  e. short-run profits to rise as the industry raises price more than the cost of pollution

Question 2

Which of the following is not a condition required for a monopolist to price discriminate?
 a. the demand curve facing the firm must be downward-sloping
  b. the firm must exhibit strong economies of scale
  c. there must be different groups of buyers with different price elasticities of demand
  d. the firm must be able to prevent reselling of the product
  e. the firm must have some market power


mmj22343

  • Sr. Member
  • ****
  • Posts: 297
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

The patient and his family meet with the nurse to discuss progress on the patient care plan. The patient and his family meet with the nurse to discuss progress on the patient care plan.
These young children are taking the initiative to explore their environment as they examine a snail These young children are taking the initiative to explore their environment as they examine a snail
Taking a Pap smear. Taking a Pap smear.
Serotonin and Risk-Taking Behavior Serotonin and Risk-Taking Behavior
Firms Incorporated into U.S. Steel Firms Incorporated into U.S. Steel
Scrubbers Scrubbers
Video: Lipid digestion - mouth, stomach and small intestine

For a complete list of videos, visit our video library