An alternative to prohibiting sale of a tobacco is imposing a tax equal to its marginal
A. private cost.
B. private benefit.
C. social cost.
D. external cost.
Answer: D
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Refer to the scenario above. Which of the following is true?
A) Both the workers should specialize in the production of Good Y. B) Worker 1 should produce Good Y and Worker should produce Good X. C) Worker 1 should produce Good X and Worker should produce Good Y. D) Both the workers should specialize in the production of Good X.
Normative economics often takes a consequentialist philosophical approach to determine whether a policy is good. ?
Answer the following statement true (T) or false (F)
The first major law created to control the growth of monopoly power was the
A) Sherman Act. B) Clayton Act. C) FTC Act. D) Robinson-Patman Act.
With collective action problems, individual trade-offs are different than the trade-offs for society as a whole
Indicate whether the statement is true or false