The Pollution of Streams and the Atmosphere Indicates

question 33

Multiple Choice

The pollution of streams and the atmosphere indicates

• A) artificially low prices for these resources.
• B) the quantities supplied exceed the quantities demanded of these resources.
• C) the presence of excessive amounts of direct regulation regarding waste disposal.
• D) that the private costs of production exceed the social costs of production.
• E) the presence of external economies.

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Definitions:

Variable Manuf. Overhead

Indirect, variable costs incurred during the manufacturing process, excluding direct labor and direct materials.

Labour Efficiency Variance

The difference between the actual labor hours used and the standard labor hours expected, multiplied by the standard labor rate.

Direct Labour Used

The total effort, measured in hours or costs, of workers directly involved in the manufacturing process of a product.

Variable Manuf. Overhead

Costs that vary with production volume, such as utilities and materials used in manufacturing.