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Author Question: In a competitive economy with no government sector: a. goods with spillover benefits will not be ... (Read 71 times)

leo leo

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on: Jun 30, 2018
In a competitive economy with no government sector:
 a. goods with spillover benefits will not be produced at all.
  b. there will be too few public goods produced.
 c. goods with spillover costs will be underproduced.
 d. too few resources be allocated to each industry.

Question 2

Alpha can produce either 18 tons of oranges or 9 tons of apples in a year, while Omega can produce either 16 tons of oranges or 4 tons of apples. Which of the following exchange rates between apples and oranges would allow both Alpha and Omega to gain by specialization and exchange?
 a. 1 ton of apples for 3 tons of oranges
  b. 3 tons of apples for 3 tons of oranges
  c. 2 tons of apples for 3 tons of oranges
  d. 1 ton of oranges for 0.2 tons of apples


gcook

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


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