Negative externalities lead markets to produce a smaller quantity of a good than is socially desirable, while positive externalities lead markets to produce a larger quantity of a good than is socially desirable.
Answer the following statement(s) true (T) or false (F)
Ans: False.
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Slope is calculated as rise / run
Indicate whether the statement is true or false
The objections to the Walsh-Healy Act of 1936, which mandated "prevailing wages" in government employment,
(a) concerned the tendency of government wages to undercut those of the private sector. (b) came from the labor unions. (c) held that unemployment would be maintained artificially high. (d) held that payment of prevailing wages would reduce the national debt too slowly.
In perfect competition, the demand curve facing a firm is a horizontal line at the market price because
a. marginal revenue equals total revenue b. of the law of demand c. price always exceeds average total cost d. marginal cost equals average cost e. the firm is a price taker
Economists refer to expenditures on training, education, and skill development designed to increase the productivity of an individual as
a. overhead expenditures. b. investments in human capital. c. non-exhaustive expenditures. d. social capital.