Market failure: a. Commonly occurs when social environmental ...

[EY67]

Market failure:
 
  a. Commonly occurs when social environmental costs exist.
  b. Commonly occurs when externalities exist.
  c. Commonly occurs when market prices are not equal to full economic costs.
  d. a and b above.
  e. All of the above.

Question 2

Which of the following best represents the position of agriculture regarding pollution control policy?
 
  a. Agriculture is treated the same as industry.
  b. Confined animal feeding operations are treated as non point source pollution.
  c. The costs of pollution from agriculture can readily be passed through to consumers.
  d. Agriculture has few well-defined points of pollution discharge and, therefore, is treated as non point source pollution.
  e. c and d above.

[jasonq]

Answer to Question 1

e

Answer to Question 2

d

[EY67]

TYSM

[bdobbins]

Excellent