The Kyoto Protocol Attempts To

question 35

Multiple Choice

The Kyoto Protocol attempts to:

• A)exclude a nonrival good.
• B)overexploit a common resource pool.
• C)privatize a public good.
• D)end a positive externality.

---

Definitions:

Variable Cost

Costs that vary directly with the level of production or business activity.

Machine Hour

A measure of production time, specifically the number of hours a machine is operated in the manufacturing process.

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced.

Total Expense

The sum of all costs and expenses incurred by a business during a specific period.