« previous next »

Author Question: Compared to ideal economic efficiency, when the production of a good generates external costs, ... (Read 114 times)

Destiiny22

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
Compared to ideal economic efficiency, when the production of a good generates external costs, competitive markets will result in an output that is too:
 a. large and a price that is too high. b. large and a price that is too low.
  c. small and a price that is too high. d. small and a price that is too low.

Question 2

Which of the following is the best example of an action that imposes an external cost?
 a. Wear and tear on your car as the result of frequent use.
  b. Deterioration in the average quality of a house you own as the result of poor maintenance.
  c. Water pollution from an upstream factory that increases the cost of providing clean water to downstream residents.
  d. A rose garden on your property from which your neighbor gets much enjoyment.


trampas

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 30, 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?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Storage devices (A) External hard-disk drive (B) USB drive (C) Memory card (D) Optical disc (DVD) ... Storage devices (A) External hard-disk drive (B) USB drive (C) Memory card (D) Optical disc (DVD) ...
Good hand and body mechanics when applying thumb pressure to the back. Good hand and body mechanics when applying thumb pressure to the back.
ATP Production in Cardiac Muscle ATP Production in Cardiac Muscle
economic question economic question
economic question (having trouble) economic question (having trouble)
DNA and RNA compared DNA and RNA compared
Video: Fetal Development of the Cardiovascular System

For a complete list of videos, visit our video library