If those who consumed common resources were subject to a tax that was equal to the external costs that they imposed due to the negative externality created:
A. individuals would consume less.
B. total surplus would be maximized for the whole society.
C. an efficient level would be reached.
D. All of these statements are true.
Answer: D
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Indicate whether the statement is true or false
In the above table, what is the marginal physical product of worker 5?
A) 8 B) 10 C) 11 D) 7
What role do imports play in aggregate demand? Under which conditions will changes in imports expand aggregate demand? Reduce aggregate demand?
People who apply for loans know more about their ability to repay the loan than the lenders do. This is an example of:
A. asymmetric information. B. public information. C. a negative externality. D. a community rating.