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Suppose that whales are threatened with extinction because a large number of people like to eat whale meat. It would be better if the government heavily taxed whale meat, than if it banned whaling.

Assume the following: Demand: P = 50 – Q; Fixed cost = 100; Marginal cost = 10. What is the percentage markup ([100 x (P-MC)/MC])? (Just the number, no percentage sign.)

There is a new coal-fired power plant, Plant A, and the government wants to keep pollution down. If all tradable pollution permits are allocated to Plant A, this will guarantee that Plant A will generate a large amount of pollution.

Based on the data, what quantity should this producer produce?  

A monopoly is considering going into business. What would be its profit given: P = 100 – Q. Fixed cost = 1,000? (Just the number, no dollar sign.)

Which arrow shows the shortage caused by a price ceiling?  

Assume the following: Demand: P = 50 – Q; Fixed cost = 100; Marginal cost = 10. What is the profit-maximizing price? (Just the number, no dollar sign.)

Which of the following is a good that is most likely associated with positive externalities?

How is it a bad thing if a good or service provides benefits to bystanders?

Assume the following: Demand: P = 50 – Q; Fixed cost = 100; Marginal cost = 10. What is total revenue? (Just the number, no dollar sign.)