Author Question: Based Figure 4.2, clothing is: A) a normal good. B) an inferior good, but not a Giffen good. ... (Read 87 times)

cagreen833 · **on:** Jul 1, 2018

Based Figure 4.2, clothing is:

A) a normal good.
B) an inferior good, but not a Giffen good.
C) a Giffen good.
D) none of the above

Question 2

Under a transferable emissions permit system,

A) the firms with the lowest marginal abatement cost curves will reduce emissions most.
B) the firms with the highest marginal abatement cost curves will reduce emissions most.
C) the firms with the lowest marginal social cost curves will reduce emissions most.
D) the firms with the highest marginal social cost curves will reduce emissions most.
E) all firms will reduce emissions equally.