« previous next »

Author Question: When an external cost exists in the production of a good, firms tend to A) under-produce the good ... (Read 106 times)

Melani1276

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
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.


peter

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Step 2 of gene cloning: The actions of a restriction enzyme and DNA ligase to produce a recombinant Step 2 of gene cloning: The actions of a restriction enzyme and DNA ligase to produce a recombinant
Use an Automated External Defibrillator Use an Automated External Defibrillator
Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid
3D Plant Layout - Side View for Dual-Stage Pressure Production of Nitric Acid 3D Plant Layout - Side View for Dual-Stage Pressure Production of Nitric Acid
The waveform of a good oxygen sensor as displayed on a digital storage oscilloscope (DSO). Note ... The waveform of a good oxygen sensor as displayed on a digital storage oscilloscope (DSO). Note ...
The density of Pb(s) is 11.34 g/cm3. Pb(s) exists in the cubic-closest packed structure The density of Pb(s) is 11.34 g/cm3. Pb(s) exists in the cubic-closest packed structure
Video: Leukemia

For a complete list of videos, visit our video library