« previous next »

Author Question: A perfectly competitive steel mill that produces large amounts of pollution (a negative externality) ... (Read 153 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
on: Jul 1, 2018
A perfectly competitive steel mill that produces large amounts of pollution (a negative externality) will, from a social point of view,
 a. produce too little steel.
  b. produce the socially optimal quantity of steel.
  c. produce too much steel.
  d. produce too much steel only if it installs pollution control equipment.

Question 2

In the case of a negative externality, the social marginal cost will
 a. exceed the private marginal cost.
  b. be equal to private marginal cost.
  c. fall short of private marginal cost.
  d. bear no significant relation to private marginal cost.


tandmlomax84

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Faulty outlooping produces lambda phage containing bacterial DNA Faulty outlooping produces lambda phage containing bacterial DNA
Gram Postive & Gram Negative Bacteria Gram Postive & Gram Negative Bacteria
The skulls of living haplorhines differ from those of strepsirhines by having large brains, an enclo The skulls of living haplorhines differ from those of strepsirhines by having large brains, an enclo
The approval of a new drug is a four-stage process: (1) preclinical investigation, (2) clinical inve The approval of a new drug is a four-stage process: (1) preclinical investigation, (2) clinical inve
A typical large tool box, showing just one of many drawers. A typical large tool box, showing just one of many drawers.
Video: A Human Karyotype Preparation Animation

For a complete list of videos, visit our video library