When consumption of a good creates positive externalities,
a. the private demand curve shifts rightward
b. the private demand curve shifts leftward
c. the private demand curve is below the marginal social benefit curve
d. the private demand curve is above the marginal social benefit curve
e. the equilibrium quantity determined by the free private market is too high
C
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Based on this figure, if the krone exchange rate is fixed at $0.09 dollars per krone, the krone is ________. 
A. revalued B. overvalued C. devalued D. undervalued
A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two workers are hired; 37 when three are hired; and 40 when four are hired. The farmer's product sells for $3 per unit and the wage rate is $13 per worker. The marginal product of the second worker is
A. 5. B. 24. C. 8. D. 1.
Property rights are social facts because
A) they are created and enforced by government. B) they are widely distributed throughout society. C) they depend upon other people's acceptance of corresponding obligations. D) they must be held in common to be effective.
Which of the following collective consumption goods does not become a private consumption good at some level of use?
a. highway b. swimming pool c. national defense d. television