When there is a negative externality, the marginal private cost of production ________ the marginal social cost of production
A) eliminates B) is less than C) is equal to D) is greater than
B
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The ability to produce a product at a lower resource cost than another nation can produce the same product is called comparative advantage
Indicate whether the statement is true or false
Which of the following is the most important of the over-the-counter markets?
A) the S&P 500 B) the Chicago Mercantile Exchange C) New York Stock Exchange D) the NASDAQ
If in market equilibrium the marginal social cost of producing a good exceeds the marginal private cost,
a. not enough of the product is being produced b. the price charged for the good is too high c. the good produces a positive externality d. the good produces a negative externality e. the government should produce the good
Laffer curve
What will be an ideal response?