The existence of marginal external benefits for a product like higher education creates a deadweight loss for society because, without government intervention, ________ would be consumed and ________ would be produced.
A) more than the efficient amount; more than the efficient amount
B) more than the efficient amount; less than the efficient amount
C) less than the efficient amount; more than the efficient amount
D) less than the efficient amount; less than the efficient amount
E) the efficient amount; the efficient amount
Question 2
If the United States imposes a tariff on foreign chocolate, how are U.S. producers of chocolate affected?
A) The quantity of chocolate they sell decreases because U.S. consumption of chocolate decreases.
B) The quantity of chocolate they produce increases.
C) The price at which they sell their chocolate falls.
D) They are harmed because foreign exporters of chocolate increase their supply in response to the higher price.
E) They are unaffected because the quota applies to foreign producers, not to U.S. producers.
Rivers Are a Product of Their Watersheds
In the 1800s, most people were poor, and formal education beyond the first several grades was a ...
The limbic system is located within the higher brain, or cerebrum.
Grind whole flaxseeds before eating them to best reap their nutritional benefits
An infant begins to notice the external environment by the age of 4 to 8 months
Use the product rule to find derivative