Did you know?

Study with Quizlet and memorize flashcards containing terms like Which of the following is a positive externality? After measles vaccinations increase by 20%, the number of cases of measles falls by 35%. Researchers develop a new drug that effectively treats a devastating disease that previously had no cure. After the price of dental care decreases, more people can afford regular dental check ... Study with Quizlet and memorize flashcards containing terms like when many people decide to act as free riders, then:, when a hypothetical company's R&D project is successful, then, Some studies done by economists have found that the original inventor receives _____ from innovations, while other businesses and new product users receive the rest of the benefit. and more. Brendan and Jamar both sew socks in a small factory. Using the same resources, Jamar can sew twelve socks and Brendan can sew nine socks in one day. Which of the following can be concluded from the given information? Group of answer choices. Brendan has a comparative advantage in sewing socks. Jamar has an absolute advantage in sewing socks.Each of the following situations are either: Negative consumption Externality, Positive production externality, Negative production externality, Positive consumption externality. A.A clothing store a Air pollution from automobiles is an example of an externality, which means that there is a divergence between marginal private costs and marginal ...Study with Quizlet and memorize flashcards containing terms like An example of a positive externality is, An automobile company is building a new factory in your town. What may be a positive externality of this event?, A city government uses eminent domain to seize property for a new public high school complex. Which of the following statements best …Economics questions and answers. Driving during heavy periods of congestion causes longer commutes and higher accident risks to others. From this we would say that driving during these periods is a a. positive consumption externality b. negative consumption externality c. negative production externality d. positive production.When there is a positive externality associated with the market multiple choice 2 too little is produced. too much is produced. the socially optimal amount is produced. c. Governments may stimulate the economy to move toward the socially optimal output by multiple choice 3 taxing the product. subsidizing the product. implementing a price ceilingWhich of the following describes a situation where the marginal social benefit is equal to the marginal social cost at equilibrium? Oligopoly. Monopoly. Positive externality. Allocative efficiency. Negative externalityA) The city government imposes rent control. The externality is that the quantity demand for housing exceeds quantity supply at the current price. B) The federal government imposes a minimum wage. The externality is that firms pay too little to their workers. C) The government offers free childhood immunizations.This chapter deals with some of these issues: Will private companies be willing to invest in new technology? In what ways does new technology have positive externalities? What motivates inventors? What role should government play in encouraging research and technology?Which of the following describes a Coasean solution to an externality? Criminalize externalities. Allow economists to set taxes and subsidies according to the external costs and benefits. Which of the following statements describes the occurance of a positive externality resulting from the production of a good by a new technology? There are 2 steps to solve this one. Expert-verified. Share Share. 3. common resources have negative externalities. -each person's behavior has a negative externality--individuals usually neglect externality. 4. everyone maximizing their short run interests is not optimal in the long run. --maximizing personal benefits in the short term is not optimal for everyone in the long term.Snakes can be described as elongated, legless reptiles of the order Serpentes. Snakes are different from similar-looking reptiles, such as legless lizards, because they have no eye...Study with Quizlet and memorize flashcards containing terms like Which of the following is an example of a negative externality?, When there is a negative externality, the unregulated market results in a level of output that is___________ than socially efficient level because the private costs are__________ than the social costs., Which of the following is an example of a positive externality ...One of the advantages of an external hard drive is that program installation files can be downloaded or copied to the drive from any computer and then installed on the computer of ...Study with Quizlet and memorize flashcards containing terms like A network effect exists when an individual consumer's demand for a good is affected by other individuals': A. purchases. B. consumer surplus. C. incomes. D. preferences., A negative network externality is caused by the: A. bandwagon effect. B. fad effect. C. snob effect. D. herd …Oligopoly O Monopoly O Positive externality O Allocative efficiency O Negative externality Which of the following describes the effect that would occur on pencils if the government implemented a per unit subsidy on pencils? The price of pencils would increase The output supplied a market would increase.If a positive externality exists in the consumption of chive butter, which of the following best describes this market? The marginal social benefit exceeds marginal private benefit. A positive externality in consumption means that the social value of consuming the good is higher than individuals value it at all units of consumption.Which of the following negative externalities would most likely result from adding four new major highways, from north to south, on this map? Rise in air pollution. Which would be a negative externality of increased satellite usage worldwide? Space in Earth's orbit will become cluttered with hazardous debris.Economics questions and answers. Which of the following situations is clearly and unambiguously descriptive of a positive externality? a) Jack feels better after his daily walk. b) Joriel studies harder than anyone in his class. C) Professor Gomez gave an unannounced quiz to her history class yesterday. d) The President of the United States ...Which of the following correctly describes a positive externality resulting from an individual's purchase of a winter flu shot? Choose matching definition Indexed funds have lower operating costs because they engage in less stock trading.Which of the following describes how a positive externality affects a competitive market? A) The externality causes a difference between the private benefit from consumption and the social benefit. B) The externality causes a difference between the private benefit from production and the social cost of production.

Study with Quizlet and memorize flashcards containing terms like Free markets produce too little output when a. negative externalities exist. b. positive externalities exist. c. products are excludable. d. products are private, Which of the following situations best describes the existence of a negative externality? a. Vernon studies for his biology test late into the night and oversleeps the ... Study with Quizlet and memorize flashcards containing terms like The term ____________ refers to a market exchange that affects a third party who is outside or external to the exchange. A. social costs B. spillover C. market failure D. private costs, Using the term "spillover" is a less formal means of describing A. an externality.This chapter deals with some of these issues: Will private companies be willing to invest in new technology? In what ways does new technology have positive externalities? What motivates inventors? What role should government play in encouraging research and technology?Which of the following describes how a positive externality affects a competitive market? A) The externality causes a difference between the private benefit from consumption and the social benefit. B) The externality causes a difference between the private benefit from production and the social cost of production.

The analysis of positive externalities is almost identical to negative externalities. The difference is that instead of the market equilibrium quantity is too much, the market will generate too little Q. Let’s look at an example. Consider the following diagram of a market where a positive externality is present.It is non-excludable and non-rival. Which of the following combinations can lead to the tragedy of the commons? A rival and non-excludable good. Which of the following describes a good that is excludable but non-rival in terms of the consumption of the good? Artificially scarce. A good with a very high social benefit is completely non-excludable.…

Reader Q&A - also see RECOMMENDED ARTICLES & FAQs. Which of the following correctly describes a posi. Possible cause: Snakes can be described as elongated, legless reptiles of the order Serpentes. .