An example of a situation in which the social costs are greater than the private costs would be
A) a new restaurant takes business away from an established restaurant.
B) hand-held calculators putting slide rule manufacturers out of business.
C) when a member of a rock band's ability to hear deteriorates from performing in so many loud concerts.
D) a physician who cannot examine patients with a stethoscope in an examination room adjacent to an airport.
Answer: D
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If the economy is at point R, most likely this economy is experiencing __________.
Explain why firms in a cartel might lobby for government regulation.
What will be an ideal response?
The amount of assets that a bank must hold at all times is determined by the
a. banks' actual reserves b. legal reserve requirement c. actual reserve requirement d. fractional reserve requirement e. excess reserve requirement
The nonhuman factors of production are
a. land and entrepreneurship b. capital and land c. capital and money d. money and land e. entrepreneurship and capital