Multiple Choice
Which situation(s) may require government intervention? I. A local business has made a profit in each of the last 10 years.
II) Students are having difficulty deciding whether to go the beach or to go hiking for their class trip.
III) A manufacturing firm on a river is dumping production runoff into the water.
A) I and II
B) II and III
C) II only
D) III only
Correct Answer:

Verified
Correct Answer:
Verified
Q306: Which statement is NOT considered a key
Q307: Another definition of opportunity cost is the
Q308: If two variables are correlated with one
Q309: Economists tend to look<br>A) at costs but
Q310: When economists assume people make rational decisions,
Q312: Thinking at the margin involves<br>A) influencing how
Q313: In the equation S = 130 -
Q314: Resources are<br>A) unlimited, but wants are limited.<br>B)
Q315: (Figure: Sales and Advertising) The graph shows
Q316: "Scarcity" is best defined as when the