Wind turbines are an alternative energy source that creates no negative externalities.
Answer the following statement true (T) or false (F)
False
Wind turbines create "visual pollution"-an undesirable obstruction in the natural landscape.
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Most pharmaceutical firms selling prescription drugs continue to earn economic profits long after the patents on the prescription drugs expire because they have established a strong foothold in the market
Indicate whether the statement is true or false
Once a division manager sees that production goal for a time period is likely to be met
a. he has an incentive to increase the pace of production b. he has an incentive to decrease the pace of production c. he does not have an incentive to change the pace of production d. he has an incentive to produce other products
Most economists believe that there are positive externalities associated with education. If they're right, the market for education fails to provide an efficient or socially optimal allocation of resources because the equilibrium
a. price and quantity would be too high b. price would be too low and quantity would be too high c. price and quantity would be too low d. price would be too high and quantity would be too low e. price and quantity would be just right
Explain how the optimal quantity of air pollution is determined
What will be an ideal response?