With positive externality, _____
a. underproduction causes deadweight loss
b. overconsumption causes deadweight loss
c. net social welfare is maximized
d. the true cost of a transaction is borne by the participants
a
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If the demand for a good is highly elastic, that good is likely to have:
A. few close complements. B. many close complements. C. few close substitutes. D. many close substitutes.
Refer to the table shown. Using the four-firm concentration ratio, the tire industry is best categorized as:IndustryNumber of sellers% of shipments accounted for by the 4 largest companiesTires1595Upholstered furniture2,00015
A. monopolistically competitive. B. oligopolistic. C. a pure monopoly. D. perfectly competitive.
A. good for the environment because richer economies spend more on environmental protection. B. bad for the environment because richer economies extract resources at a faster rate. C. good for the environment because richer economies produce fewer
chemicals. D. bad for the environment because people in richer economies tend to care less about the environment. A. countries with lower GDP per person tend to have healthier environments. B. countries with higher GDP per person tend to have healthier environments. C. there is no correlation between GDP per person and environmental quality. D. growth in GDP per person initially improves environmental quality and then gradually reduces it.
Since 1999, the number of small state-owned enterprises (SOEs) in China has
A) decreased, but the large SOEs continue to hold a large proportion of industrialized assets. B) increased, but large SOEs has decreased. C) decreased along with the large SOEs. D) remained unchanged.