When an external cost exists in the production of a good, firms tend to
A) under-produce the good since society pays these costs.
B) over-produce the good.
C) keep production constant throughout the year.
D) under-allocate resources to the production of the good.
Question 2
Refer to the above table. Suppose the demand for smartphones rises because more people use the Internet with a smartphone. The new equilibrium price will be
A) 200.
B) 275.
C) more than 275.
D) impossible to be determined given the information.
Basidiomycetes produce diverse fruiting bodies.
Furchgott's discovery that endothelial cells produce a vasodilating substance.
External beam radiotherapy.
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