The external benefit of a good
A) equals its consumer surplus.
B) equals its producer surplus.
C) equals its total surplus.
D) is a benefit from the good falling on people who are not the consumers of the good.
D
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The following table shows a monopolist’s demand curve and cost information for producing its good. What price will the monopolist charge?
a. $25
b. $30
c. $20
d. $35
If the United States decides to allocate more resources to capital goods and less to consumer goods, the United States will obtain a greater degree of:
A) economic growth. B) full employment. C) price stability. D) technical efficiency.
Explain some of the steps that a government would wish to adopt in an inflationary environment.
What will be an ideal response?
Most regional trade and WTO agreements practice
A) the harmonization standards only. B) separate standards only. C) mutual recognition standards only. D) a combination of harmonization, mutual recognition, and separate standards.