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Author Question: In a market with positive externalities, A) the efficient level of production is less than what ... (Read 67 times)

serike

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on: Jul 1, 2018
In a market with positive externalities,
 
  A) the efficient level of production is less than what competition will obtain.
  B) the efficient level of production is equal to what competition will obtain.
  C) the efficient level of production is more than what competition will obtain.
  D) there cannot be an efficient level of production.

Question 2

In a competitive market, a negative externality creates a deadweight loss because
 
  A) the cost of the externality is double counted.
  B) a harm is generated.
  C) price equals social marginal cost.
  D) price equals private marginal cost.
Microeconomics ¦ Perloff ¦ 8th Edition
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tsternbergh47

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


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