Goods whose production is associated with positive externalities are
a. under-priced and over-provided
b. under-priced and under-provided
c. over-priced and under-provided
d. over-priced and over-provided
e. not provided by private markets
C
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Of the choices given below, Jimmy, whose utility of wealth schedule is given above, prefers
A) option A: $300 with certainty. B) option B: 50 percent chance of $200 and 50 percent chance of $400. C) option C: 50 percent chance of $200 and 50 percent chance of $700. D) option D: 90 percent chance of $400 and 10 percent chance of $0.
In the long run, a firm can choose
A) to operate at any point on only one short-run average total cost curve. B) to operate along any short-run average total cost curves. C) to operate along any short-run average variable cost curves. D) to operate along any point of its short-run marginal cost curves.
If the demand for bonds increases, the
a. price and quantity of bonds in existence both increase b. price of bonds increases, but the quantity of bonds in existence decreases c. price of bonds increases, but the quantity of bonds in existence remains unchanged d. interest rate and quantity of bonds in existence both increase e. interest rate increases, but the quantity of bonds in existence remains unchanged
The Federal Trade Commission is an agency that would enforce
A. fair pricing for consumers. B. social regulation. C. antitrust laws. D. economic regulation.