The text maintains that elected and appointed government officials
What will be an ideal response?
discern the public interest in the light of private or personal interests.
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Marginal benefit is the benefit that your activity provides to someone else
Indicate whether the statement is true or false
When marginal cost pricing occurs
A) price equals the additional cost society incurs in producing the next unit of an item. B) the firm can only break even if it does not set price to marginal cost. C) price equals average variable cost but exceeds average total cost. D) the firm is at the shutdown point.
In some cases, social regulation may alter individuals' behavior. For example, there is evidence to indicate that as more automobile safety regulations have been introduced, more individuals have begun to drive recklessly. This phenomenon is known as
A) the feedback effect. B) the share-the-gains effect. C) the share-the-pains effect. D) the capture effect.
Pollution
A. is absent in a free market economy. B. exists because air and water are privately owned resources. C. is increased when property rights are defined. D. creates a negative externality.