The existence of an externality is proof that there is a(n):
a. market failure.
b. undervaluation of a good.
c. undervaluation of a cost.
d. property dispute.
e. free-rider problem
a
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The above figure shows the market for biologists. The government decides to set a minimum wage for biologists of $18 per hour
After this minimum wage is in effect, and taking account of the resources lost in job search, workers' surplus equals ________. A) $800 B) $900 C) $400 D) $1,800 E) $200
If an industry were perfectly competitive, the four-firm concentration ratio would be close to ________ and the Herfindahl-Hirschman index would be close to ________
A) 0; 0 B) 0; 100 C) 100; 0. D) 100; 100.
Explain how Singapore delivers good quality health care with significantly less spending than the United States
What will be an ideal response?
If the long-run aggregate supply curve is vertical, fiscal policy will have no effect on output.
Answer the following statement true (T) or false (F)