Orchards provide services to beekeepers because the bees use the pollen to make honey. This is an example of
A) a positive externality, and too many orchards exist in society.
B) a positive externality, and too few orchards exist in society.
C) a negative externality, and too many orchards exist in society.
D) a negative externality, and too few orchards exist in society.
Answer: B
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If the dollar depreciates against the Indian rupee
A) The value of Indian imports to the United States does not change. B) Indian imports to the U.S. become less expensive. C) U.S. exports to India become more expensive. D) U.S. exports to India become less expensive.
Efforts by firms to secure patents increase the amount of competition in the affected markets
Indicate whether the statement is true or false
Graphically, the producer surplus for a given demand curve is the total area: a. below the marginal social cost curve and above the market price. b. above the supply curve and below the market price
c. below the demand curve and above the supply curve. d. below the private cost curve and above the market price.
Suppose you are an economic researcher, and you have access to detailed information about all of the firms in a given geographic area. You would conclude that the pollution reduction policy in that area is efficient if you observe that:
A. all firms currently use the same pollution reduction technology. B. all firms produce approximately the same amount of pollution. C. the cleanest firms are also the most profitable. D. the marginal cost of reducing pollution is the same for all firms at current emissions levels.