When a positive externality is present in a market, the quantity consumed:
A. is always more than the socially optimal quantity.
B. is the same as the socially optimal quantity.
C. is often more than the socially optimal quantity.
D. is less than the socially optimal quantity.
D. is less than the socially optimal quantity.
You might also like to view...
When firms are neither entering nor exiting a perfectly competitive market,
a. total revenue must equal total variable cost for each firm. b. economic profits must be zero. c. price must equal average variable cost for each firm. d. Both a and c are correct.
To classical economists, it is always true that
a. there is zero unemployment. b. actual output is always equal to potential output. c. excess demand for goods is possible unless prices are forced to fall. d. the marginal product of labor exceeds the real wage.
An increase in demand will cause a(n)
a. increase in supply b. decrease in supply c. decrease in quantity supplied d. increase in quantity supplied e. decrease in equilibrium price
The labor force divided by the working age population equals the:
A. unemployment rate. B. participation rate. C. employment rate. D. population rate.