In an unregulated market with an external benefit, the
A) quantity produced is greater than the efficient quantity.
B) price charged is too high for efficiency.
C) quantity produced is less than the efficient quantity.
D) producer is causing pollution but not paying for it.
E) government might impose a tax to help move the market toward the efficient amount of production.
Question 2
Which of the following is a difference between an oligopoly with homogeneous products and an oligopoly with differentiated products?
A) There are a large number of sellers in an oligopoly with homogeneous products and there are a few sellers in an oligopoly with differentiated products.
B) Firms in an oligopoly with homogeneous products earn positive economic profits in equilibrium, while firms in an oligopoly with differentiated products earn zero economic profits.
C) There are huge barriers to entry in an oligopoly with homogeneous products, while there are no barriers to entry in an oligopoly with differentiated products.
D) Firms in an oligopoly with homogeneous products earn zero economic profits in equilibrium, while firms in an oligopoly with differentiated products earn positive economic profits.
Comparison of the radius of fruits produced by native and introduced species of Sapindaceae
Mendel's breeding program that produced a 9 : 3 : 3 : 1 ratio
Use an Automated External Defibrillator
Use an Automated External Defibrillator
Reconstruction Drawing of Trajan's Market
France has produced most of its energy from nuclear power since the oil crisis of the 1970s