ECON 2010 FINAL

66 42 for an economist the statement i value my

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Unformatted text preview: ou are giving up 1 apple per 3 carrots 3 D) 3 apples, 1/3 carrot and 3 carrots for every 1 apple 1 apples 6.66 42. For an economist, the statement, "I value my friendship with Marc more than I value my friendship with Don." simply means my WTA the loss of Marc as a friend is greater than my WTA the loss of Don as a friend. A) True B) False Version 1 Page 9 43. Imagine the U.N. requires that total carbon dioxide emissions of China and the U.S. be reduced by 100 units. 100 units of carbon dioxide emissions is a small percentage of each country's current carbon dioxide emissions. Imagine that in the 100 unit range, the cost, on the margin, of reducing carbon emission is always higher in the U.S. than in China. This is likely to be the case because the U.S. tends to produce heat and energy using methods that are less carbon intensive. Given all this, which of the following statements is both most likely and most informative. A) The cost-minimizing way to achieve the required reduction is for the reduction to occur in the U.S. because production is more...
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This document was uploaded on 02/18/2014 for the course ECON 2010 at Colorado.

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