In an unregulated competitive market, the presence of marginal external benefit from a good or service results in less than the efficient quantity being produced
Indicate whether the statement is true or false
TRUE
You might also like to view...
Assume that the Federal Reserve replaces the money stock with the interest rate as an intermediate target. Then,
a. the range for the target interest rate would be chosen to hit the inflation rate, unemployment rate, and growth rate of the economy. b. if the Treasury bill rate fell temporarily below the target range, the Open Market Desk would sell securities in the open market until the Treasury bill rate rose to the target range. c. if the Treasury bill rate rose above the target range, the Open Market Desk would purchase Treasury bills or other government securities. d. All of the above
A firm’s minimum AC is $10, its minimum AVC $7. Show this firm’s short-run supply curve, explaining how you obtained it.
What will be an ideal response?
Refer to the information provided in Figure 13.3 below to answer the question(s) that follow. 
Figure 13.3Refer to Figure 13.3. This firm's marginal revenue will be negative at
A. $14. B. prices between $8 and $12. C. $6. D. all prices.
Which of the following is a factor that can motivate changes in the costs of transferring knowledge?
A. Changes in technology B. The nature of knowledge to be transferred C. The form of government in the country D. The prevailing tax rates