Table 13.3 contains hypothetical data on the social costs and benefits incurred in improving water quality in a lake. The current level of pollution is 25 PPM. Show your calculations for MSC and MSB.   Pollution Abatement (PPM) 0 5 10 20 25 Social Benefit 360 570 720 810 840 Social Cost 60 75 105 195 300 MSC           MSB               What is the marginal social benefit (in dollars per PPM) of increasing pollution abatement from 5 to 10 PPM in Table 13.3?  

If an electric company does not have to pay for its contribution to acid rain, then it will be producing:

External costs refer to:

The equilibrium price is  

Production possibilities:

If an economy is producing inside the production-possibilities curve, then:

Work Experience Using the table below which compares earnings of co-op and non-co-op students answer the following questions.   Does race have an influence on pay students can expect to earn (in this article)? _______________. If so, how much more can they expect to earn? Please express your answer in terms of percentages. You will need show your calculation. A number without a supporting calculation will receive no credit. 

The 20 percent of families with the lowest income in the U.S. receive approximately ______ percent of total income.

The inflation rate in 2012 was 2.1 percent and in 2013 it was 1.5 percent. This can best be described as: 

Imports: