Author Question: The positive externality associated with education is: a. producers can get higher prices for their ... (Read 123 times)

asan beg · **on:** Jun 30, 2018

The positive externality associated with education is:
a. producers can get higher prices for their goods and services.
b. less crowding in the classrooms.
c. increases in societal well-being and economic growth.
d. technological progress slows as basic research increases.
e. the market excludes noncontributors to education from benefits.

Question 2

When there is market failure due to a negative externality,
a. innocent people will suffer since it cannot be corrected.
b. setting price equal to marginal social cost will solve it.
c. the free market produces too little output.
d. externalities have been taken into account.
e. the best solution eliminates the externality entirely.