Multiple Choice
When a resource has no direct price
A) overuse of the resource and the tragedy of the commons may occur.
B) overuse of resources and underproduction will occur.
C) pollution occurs.
D) underallocation of resources may occur.
Correct Answer:
Verified
Correct Answer:
Verified
Q9: Social market costs include<br>A)private marginal costs.<br>B)the negative
Q10: This allows the use of dollars as
Q11: Pollution is an example of<br>A)a positive externality.<br>B)a
Q12: The government sells permits that allow producers
Q13: External costs can be defined as<br>A)the difference
Q15: A system of pollution reduction that allows
Q16: A negative externality occurs when<br>A)costs of production
Q17: Marginal costs born only by the producer
Q18: A negative to the command-and-control approaches to
Q19: When the market system does not generate