When marginal private cost is less than marginal social cost,
A. a public good exists.
B. a negative externality exists.
C. a positive externality exists.
D. negative economic profits are made.
E. a and d
Answer: B
You might also like to view...
The opportunity cost of any decision is the forgone value of the next best alternative that is not chosen.
Answer the following statement true (T) or false (F)
The convergence theory is based on the idea of:
A. decreasing marginal returns. B. decreasing income per capita. C. increasing rates of income per capita. D. increasing opportunity costs.
Karl Marx wrote largely about
A. 19th century England. B. 18th century England. C. 19th century Russia. D. 18th century Russia.
Price indexes:
A. let us measure how much real stuff we get for our money. B. allow us to convert nominal measures of output into real measures of output. C. like the CPI or GDP price deflator are used to measure the aggregate price level. D. All of these statements are true.