-According to the Above Figure, If Steel Mills Ignore the Cost

question 360

Multiple Choice

-According to the above figure, if steel mills ignore the cost of pollution, then the supply curve will

• A) shift from S1 to S2.
• B) shift from S2 to S1.
• C) remain at S1.
• D) shift either to the left or the right, but it is impossible to say without more information.

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Definitions:

Council Of Economic Advisers

A team of economic advisors who provide counsel on economic policy to the President of the United States.

Congressional Budget Office

A nonpartisan federal agency within the legislative branch of the United States government that provides budget and economic information to Congress.

Economic Policy

Decisions made by governments concerning the economic goals of the nation and the methods of achieving those goals.

Y-Coordinate

The vertical position in a two-dimensional Cartesian coordinate system, representing the distance from the x-axis.