The existence of externalities in a market implies that:
a. resources are being used efficiently.
b. there is no other allocation of resources that would make society as a whole better off.
c. consumers cannot be excluded from consuming the good once it is provided.
d. resources are not being used in their highest valued activity.
e. the social welfare is maximized.
d
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How are the domestic sellers and buyers of a good affected if a country starts exporting the good?
What will be an ideal response?
In economic models, variables taken as given and not explained by the model are called ________ variables
A) exogenous B) endogenous. C) short-run. D) long-run. E) nominal.
Economists sometimes use the term "countercyclical"
What will be an ideal response?What will be an ideal response?
Quantitative easing involves the Fed swapping:
A. money for assets other than T-bills. B. money for T-bills. C. T-bills for different T-bills. D. T-bills for assets other than T-bills.