Negative externalities cause loss of welfare not transmitted by market factors.
A. True
B. False
C. Uncertain
A. True
Economics
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Refer to Scenario 1 . What is the economic significance of 25 fish captured and 25 crabs captured?
What will be an ideal response?
Economics
Let MP = marginal product, P = output price, and W = wage, then the equation that represents a situation where a competitive firm should lay off some workers to maximize profits is
A) P × MP > W. B) P × MP < W. C) MP × W = P. D) P × MP = W.
Economics
When a price ceiling which had been set below equilibrium price is removed, what happens next?
A. quantity supplied rises. B. quantity demanded falls. C. price rises. D. all of the choices.
Economics
What would you expect the cross price elasticity of iPods and online music downloads? Explain your answer
What will be an ideal response?
Economics