In a market with positive externalities, the market equilibrium quantity maximizes the welfare of society as a whole
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Your classmates from the University of Chicago are planning to go to Miami for spring break, and you are undecided about whether you should go with them. The round-trip airfares are $600, but you have a frequent-flyer coupon worth $500 that you could use to pay part of the airfare. All other costs for the vacation are exactly $900. The most you would be willing to pay for the trip is $1400. Your only alternative use for your frequent-flyer coupon is for your trip to Atlanta two weeks after the break to attend your sister's graduation, which your parents are forcing you to attend. The Chicago-Atlanta round-trip airfares are $450.What is the opportunity cost of using the coupon for the Miami trip?
A. $500 B. $450 C. $100 D. $550
One of the most significant barriers to economic growth in the world's poorest nations is
A) political freedom. B) dead capital. C) environmental issues. D) U.S. government interference.
To maintain their standard of living, most people rely on
a. government assistance. b. their personal savings. c. their labor earnings. d. rental income.
This monopolist
A. is in the short run.
B. is in the long run.
C. may be in the short run or the long run.