Multiple Choice
For both public goods and common resources, an externality arises because:
A) something of value has no price attached to it
B) the goods are undervalued by society
C) the social optimum level of output is greater than market equilibrium
D) all of the above are true
Correct Answer:

Verified
Correct Answer:
Verified
Q16: The fact that cows are not extinct
Q17: The Occupational Safety and Health Administration (OSHA)
Q18: The Occupational Safety and Health Administration (OSHA)
Q19: Government intervention becomes increasingly necessary to solve
Q20: Cost-benefit analysis can account for risk by
Q22: The efficient provision of public goods is
Q23: Private market failure to optimally allocate common
Q24: To determine if a good is a
Q25: It is sometimes possible for households to
Q26: Some villages in Papua New Guinea farm