Refer to the Data Provided in Table 16 -Refer to Table 16

question 46

Multiple Choice

Refer to the data provided in Table 16.1 below to answer the following question(s) .
Table 16.1 shows the situation facing two firms, both of which are polluting. Assume that each firm emits 5 units of pollution.
Table 16.1
$$\begin{array} { | c | c | c | c | c | c | } \hline \text { Firm A } & \text { Firm A } & \text { Firm A } & \text { Firm B } & \text { Firm B } & \text { Firm B } \\\hline \begin{array} { c } \text { Reduction of } \\\text { Pollution by } \\\text { Firm A }\end{array} & \begin{array} { c } M C \text { of } \\\text { reducing } \\\text { pollution for } \\\text { Firm A }\end{array} & \begin{array} { c } T C \text { of } \\\text { reducing } \\\text { pollution for } \\\text { Firm A }\end{array} & \begin{array} { c } \text { Reduction of } \\\text { Pollution by } \\\text { Firm B }\end{array} & \begin{array} { c } M C \text { of } \\\text { reducing } \\\text { pollution for } \\\text { Firm B }\end{array} & \begin{array} { c } T C \text { of } \\\text { reducing } \\\text { pollution for } \\\text { Firm B }\end{array} \\\hline 1 & \$ 4 & \$ 4 & 1 & \$ 8 & \$ 8 \\\hline 2 & 6 & 10 & 2 & 12 & 20 \\\hline 3 & 9 & 19 & 3 & 16 & 36 \\\hline 4 & 13 & 32 & 4 & 20 & 56 \\\hline 5 & 18 & 50 & 5 & 24 & 80 \\\hline\end{array}$$
-Refer to Table 16.1. Suppose the government wants to reduce the total amount of pollution from the current level of 10 to 4. To do this, the government caps each firm's emissions at 2 units and issues 2 permits to each firm. If firms are allowed to trade permits, what is the total cost of the pollution reduction?

• A) $0
• B) $30
• C) $52
• D) $55

Recognize the consumer protections provided by laws and regulations against misleading advertisements and fraud.

Understand the role and enforcement actions of the Federal Trade Commission (FTC) in protecting consumers.

Grasp the specifics of consumer protection in the context of online and digital environments.

Appreciate the significance of truthfulness in advertising and the requirement for ad substantiation.

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Definitions:

Unintelligent

Lacking intelligence, understanding, or insight; displaying a lack of smart or sensible thinking.

Bad Faith

A concept in existentialist philosophy referring to self-deception or lying to oneself, often to avoid facing uncomfortable truths.

Jean-Paul Sartre

A French philosopher, playwright, novelist, and political activist from the 20th century, recognized for his work in existentialism and phenomenology.

Relationships

The way in which two or more people or things are connected, or the state of being connected.