• 2022-07-23
    The
    Coase theorem states that ____.
    A: the
    level of pollution should be equal to zero to maximize social net
    benefit
    B: if
    property rights exist and transactions costs are low, private
    transactions are efficient
    C: the
    efficient level of output is where marginal external cost equals
    marginal external benefit
    D: the
    best way to limit pollution is by taxing producers who pollute
  • B
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    • 0

      Bridget drinks three sodas during a particular<br/>day. The marginal benefit she enjoys from drinking the third soda() A: can be thought of as the total benefit<br/>Bridget enjoys by drinking three sodas minus the total benefit<br/>she would have enjoyed by drinking just two sodas. B: determines Bridget’s willingness to<br/>pay for the third soda. C: is likely different from the marginal<br/>benefit provided to Bridget by the second soda. D: All of the above are correct.

    • 1

      In the above figure, when 2000 bicycles are produced each month, we can see that A: the marginal benefit from another bicycle is greater than the marginal cost of another bicycle. B: more bicycles should be produced to reach the allocatively efficient level of output. C: the economy is very efficient at the production of bicycles because the marginal benefit exceeds the marginal cost. D: Both answers A and B are correct.

    • 2

      In<br/>which of the following case will a firm prefer the entry mode of a<br/>wholly owned foreign subsidiary? ( ) A: The<br/>firm has a high level of tacit knowledge B: The<br/>firm has a high level of performance certainty C: The<br/>firm has a low level of interdependence with its foreign partner D: The<br/>firm has a low level of confidence in international operation

    • 3

      A firm will hire a worker whenever that worker's marginal product of labor is:() A: greater<br/>than the marginal product of labor for the next best worker. B: less<br/>than the marginal product of labor for the next best worker. C: greater<br/>than the worker's wage. D: less<br/>than the worker's wage.

    • 4

      Fiction has two levels of understanding, the narrative level and the<br/>authorial level, or the <br/>surface<br/>level and the deep level of understanding.()