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