When there is an external benefit, the unregulated market
A) overproduces the good or service.
B) underproduces the good or service.
C) reaches the most efficient solution.
D) maximizes public welfare.
B
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When the benefits of producing a good or service spill over to other people, rather than just the buyer, the spillover is referred to as
A) an external benefit. B) an external cost. C) a marginal cost. D) an equilibrium social output. E) a Coasian good.
Relative to a single-price monopoly, the effect of group price discrimination on social welfare is
A) beneficial. B) detrimental. C) neutral. D) ambiguous.
The slope of a perfectly elastic demand curve is equal to zero
a. True b. False Indicate whether the statement is true or false
In Figure 33.1, how many people would lose their jobs as a result of the minimum wage? 
A. L* B. LS-Lmin C. L*-Lmin D. LS - L*