The social cost of producing a good that generates negative externalities is the sum of the ________
A) average variable cost and average fixed cost of production
B) average total cost and the marginal cost of production
C) private cost and external costs of production
D) total fixed cost and total variable cost of production
C
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A true public good is characterized by
a. depletability but not excludability. b. excludability but not depletability. c. both depletability and excludability. d. neither depletability nor excludability.
Under a fixed-rate unified currency regime, each country belonging to the system
a. may pursue an independent monetary policy. b. gives up its monetary policy independence to one central bank with the power to expand and contract the money supply. c. is committed to conducting highly expansionary monetary policy in order to maintain the convertibility of its currency. d. must fix its domestic interest rates in order to maintain the convertibility of its currency.
After the Revolutionary War, the U.S. monetary system was based on gold. Historically, why did the U.S. adopt the use of gold as a currency? How does this compare with the currency used today?
What will be an ideal response?
In which step of the demographic transition would we expect population to grow the fastest?
A. Step 1. B. Step 2. C. Step 3. D. There is no step that would be expected to consistently yield faster population growth.