## maximize economic profit by choosing to a. voluntarily incur costs to reduce its pollution.

The profit-maximizing firm in Exhibit 6 creates water and air pollution as a consequence of producing its output of beef cattle. If pollution costs are borne by third parties, the f rm will maximize economic profit by choosing to a. voluntarily incur costs to reduce its pollution. b. produce at output rate Q3. c. produce at output rate Q2. d. produce at output rate Q4.

Q279; To maximize social welfare, the fi rm in Exhibit 6 should produce at output rate a. Q1. b. Q2. c. Q3. d. Q4.

As shown in Exhibit 7, if Orville has the property right to fly over Wilbur’s house, but Wilbur is allowed to negotiate with Orville on the number of flights, what will be the number of flights? a. 2 b. 3 c. 4 d. 5

### Copy the two multiplication problems listed below on separate pieces of paper.

The Anchoring and Adjustment Heuristic Copy the two multiplication problems listed below on separate pieces of paper. Show Problem A to at least five friends, and show Problem B to….

### What is the total area of Canada (in either square kilometers or square miles)?

Estimating Confidence Intervals For each of the following questions, answer in terms of a range, rather than a single number. Specifically, you should supply a 98% confidence interval. A confidence….

### Would you pay \$20 for another ticket for the concert?

The Framing Effect and Background Information Try the following two problems: Problem 1 Imagine that you decided to see a concert, and you paid \$20 for the admission price of….