Which of the Following Is a Cheap Way to Maintain

question 20

Multiple Choice

Which of the following is a cheap way to maintain water supplies?

• A) not waste so much water
• B) use water-saving irrigation methods
• C) create groundwater replenishment systems
• D) install high-tech water filtration systems
• E) both A and B

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Definitions:

Marginal Revenue

The additional income obtained from selling one more unit of a product or service.

Demand Schedule

A table that shows the quantity of a good or service that consumers wish to buy at each price level.

Output

The quantity of goods or services produced by a firm, industry, or economy in a given period.

X-inefficiency

X-inefficiency occurs when a firm produces outputs at higher costs than is necessary, often due to a lack of competitive pressure or motivation.