When negative externalities exist in a market, that market will produce too little output compared to the socially efficient level of output
a. True
b. False
Indicate whether the statement is true or false
False
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Goods are distributed among people by means of
A. a central authority. B. prices. C. markets. D. All of these are correct.
An oligopoly created because of economies of scale is called a
A) natural oligopoly. B) legal oligopoly. C) public oligopoly. D) monopolistic oligopoly. E) scale oligopoly.
When technology improves in a country with a fast-growing population ________
A) output rises, but output per person does not B) output rises in that country, while output per person rises in other countries C) output per person rises in that country and around the world D) output per person rises temporarily, then declines
If the "Marginal Congestion Cost" for a public good is constant then the optimal number of users is infinite
a. True b. False