An externality refers to the idea that
A) explicit costs differ from implicit costs.
B) decision-makers do not internalize all the costs.
C) we cannot do anything that does not affect other people.
D) private and internal costs differ.
B
Economics
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When a binding price floor is imposed on a market, a. price no longer serves as a rationing device
b. the quantity supplied at the price floor exceeds the quantity that would have been supplied without the price floor. c. only some sellers benefit. d. All of the above are correct.
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Would a tax on prescriptions drugs be more likely to be progressive or regressive? Why?
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Entry of new firms into a market results in less product differentiation
Indicate whether the statement is true or false
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What is the GDP price index?
What will be an ideal response?
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