A competitive, unregulated market would A) produce too much ...

[luminitza]

A competitive, unregulated market would
 
  A) produce too much pollution because pollution is an external cost.
  B) produce too little education because education has an external benefit.
  C) fail to achieve equilibrium if there are externalities present.
  D) Both answers A and B are correct.
  E) Both answers B and C are correct.

Question 2

Explain whether the statement, There is life on Mars, is a normative or positive statement.
 
  What will be an ideal response?

[momo1250]

Answer to Question 1

D

Answer to Question 2

The statement is a positive statement because it does not depend on a value judgment. Instead, it is a statement that tries to describe what is and hence is testable. Of course, in order to test the assertion, it would be necessary to go to Mars to ascertain if there is life present. While it is difficult () at present to actually carry out the test, nonetheless the statement is testable and hence is a positive statement.

[luminitza]

Thanks for the timely response, appreciate it

[peter]

Great answer, keep it coming