Multiple Choice
A positive consumption externality occurs when:
A) the social marginal cost is greater than the private marginal cost
B) the social marginal benefit is greater than the private marginal benefit
C) the social marginal cost is greater than the private marginal benefit
D) the social marginal cost is less than the private marginal cost
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Asymmetric information occurs when:<br>A)information is free<br>B)buyers and
Q2: There are strong theoretical reasons to expect
Q4: A situation where people who have taken
Q5: Which best describes consumer surplus?<br>A)the price consumers
Q6: Monopoly power in a market is likely
Q7: If, for John's current intertemporal consumption pattern
Q8: Community surplus equals:<br>A)producer surplus minus consumer surplus<br>B)profits
Q9: An insurance company can protect itself from
Q10: A public good will probably:<br>A)be expensive in
Q11: A demerit good:<br>A)is a public good<br>B)involves a