Homework Answers
Option 4. Property rights are not well defined.
Explanation: When property rights are well-defined, people protect them well and use them in a sustainable way.
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Question 32 1 pts Air pollution is an example of a negative externality. What is the...
Text questions Which of the following is correct? Negative externalities in production (negative externality in production)...
Text questions Which of the following is correct? Negative externalities in production (negative externality in production) result in Choose one: a. That too much will be produced and the price too low. b. exactly the right quantity will be produced by the product. c. That too much will be produced and the price too high. d. That too little will be produced and the price too low. e. That too little will be produced and the price too high.
QUESTION 23 The Coase theorem suggests that private bargains will ensure the efficiency of markets even...
QUESTION 23 The Coase theorem suggests that private bargains will ensure the efficiency of markets even when externalities exist but only in the presence of government regulation if consumers have more information regarding the externality than suppliers if transactions costs are low and property rights are well-defined if the cost of the negotiation are less than the price of the good
Question 10 1 pts What is another term for private benefit? O Profit Social benefit O...
Question 10 1 pts What is another term for private benefit? O Profit Social benefit O Social rate of return Intellectual property Question 11 1 pts If a pharmaceutical company receives a drug patent in 2001 when can other companies legally produce that same drug? O 2011 O 2022 оооо 0 2034 0 2045 Question 8 1 pts McAdam's Cabinets is a commercial producer of kitchen cabinets. The state just passed legislation that requires the company to install smoke stack...
Typically a more Free market economist such as Milton Friedman would define an Externality as a...
Typically a more Free market economist such as Milton Friedman would define an Externality as a consequence of ["a lack of well defined property rights", "well defined property rights", "too much government inaction", "too little government action"] and as such would prescribe a policy of ["fines", "compensation", "checks"] to those 3rd party individuals (The Coase Theorem) Whereas typically a more mainstream economist such as Krugman would define an Externality as a consequence of ["too little...
Please chose the correct answer, and explain why if possible. Thank you so much! Question 4...
Please chose the correct answer, and explain why if possible.
Thank you so much!
Question 4 1 pts From the perspective of economic efficiency, an unregulated market outcome in the presence of a negative externality results in O a price and quantity that are both too low. the correct price and quantity. a price and quantity that are both too high. a price that is too high and a quantity that is too low. a price that is too low...
Question 1) Dumping raw sewage into boston harbor is an example of A) a negative externality...
Question 1) Dumping raw sewage into boston harbor is an example
of
A) a negative externality
B) a positive externality
C) a private cost
D) a sunk cost
Question 2) Oil is an example of a renewable resource.
A) TRUE
B) FALSE
others questions are taken in pictures attach please
check
thank you
We were unable to transcribe this imageQuestion 2 Oil is an example of a renewable resource. True O False Question 3 Public utilities are either government-owned or...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers to high-cost domestic producers, wasting resources domestic producers buy more of the good, increasing the gains from trade domestic producers produce more output, increasing the gains from trade deadweight losses are eliminated because foreign producers sell below their product cost QUESTION 20 As a result of tariffs, domestic producers tend to • gain more than domestic consumers lose • spend less money on lobbying...
QUESTION 7 Suppose you often come home and find that an uninvited dog has left a...
QUESTION 7 Suppose you often come home and find that an uninvited dog has left a calling card in your yard. Determining whose dog is responsible is an example of which of the following? Holdout problem Assignment problem Free-rider problem Externality-internalization problem Transaction costs and negotiating problems 1 points Save Answer QUESTION 8 Which of the following suggests that when an investment has a personal cost but a common benefit, individuals will underinvest? O Holdout problem Assignment problem Free-rider problem...
Homework 3- Chapters 5, 6, 19 & 20 1) Antitrust legislation, in theory, is supposed to...
Homework 3- Chapters 5, 6, 19 & 20 1) Antitrust legislation, in theory, is supposed to (decrease promo ition in the private sector Pollution is an example of g(negative, positive) externality If third parties benefit from a transaction, then (negativ positive externalities exist, and 2) y3) the price system will allocate resources (inefficiently, efficiently). 4) A free rider has an incentive (to pay hot to pay) for a publie good. 5) T F If third parties are hurt by the...
19. Which of the following is not a negative externality? a. air pollution. b. high oil...
19. Which of the following is not a negative externality? a. air pollution. b. high oil prices. c. clear-cutting in forests. d. litter. 20. Which of the following types of goods is least likely to be provided by the market? a. a good that is rival in consumption and for which exclusion is possible. b. a good that is nonrival in consumption and for which exclusion is possible. c. a good that is nonrival in consumption and for which exclusion...
Text questions Which of the following is correct? Negative externalities in production (negative externality in production) result in Choose one: a. That too much will be produced and the price too low. b. exactly the right quantity will be produced by the product. c. That too much will be produced and the price too high. d. That too little will be produced and the price too low. e. That too little will be produced and the price too high.
Question 10 1 pts What is another term for private benefit? O Profit Social benefit O Social rate of return Intellectual property Question 11 1 pts If a pharmaceutical company receives a drug patent in 2001 when can other companies legally produce that same drug? O 2011 O 2022 оооо 0 2034 0 2045 Question 8 1 pts McAdam's Cabinets is a commercial producer of kitchen cabinets. The state just passed legislation that requires the company to install smoke stack...
Please chose the correct answer, and explain why if possible.
Thank you so much!
Question 4 1 pts From the perspective of economic efficiency, an unregulated market outcome in the presence of a negative externality results in O a price and quantity that are both too low. the correct price and quantity. a price and quantity that are both too high. a price that is too high and a quantity that is too low. a price that is too low...
Question 1) Dumping raw sewage into boston harbor is an example
of
A) a negative externality
B) a positive externality
C) a private cost
D) a sunk cost
Question 2) Oil is an example of a renewable resource.
A) TRUE
B) FALSE
others questions are taken in pictures attach please
check
thank you
We were unable to transcribe this imageQuestion 2 Oil is an example of a renewable resource. True O False Question 3 Public utilities are either government-owned or...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers to high-cost domestic producers, wasting resources domestic producers buy more of the good, increasing the gains from trade domestic producers produce more output, increasing the gains from trade deadweight losses are eliminated because foreign producers sell below their product cost QUESTION 20 As a result of tariffs, domestic producers tend to • gain more than domestic consumers lose • spend less money on lobbying...
QUESTION 7 Suppose you often come home and find that an uninvited dog has left a calling card in your yard. Determining whose dog is responsible is an example of which of the following? Holdout problem Assignment problem Free-rider problem Externality-internalization problem Transaction costs and negotiating problems 1 points Save Answer QUESTION 8 Which of the following suggests that when an investment has a personal cost but a common benefit, individuals will underinvest? O Holdout problem Assignment problem Free-rider problem...
Homework 3- Chapters 5, 6, 19 & 20 1) Antitrust legislation, in theory, is supposed to (decrease promo ition in the private sector Pollution is an example of g(negative, positive) externality If third parties benefit from a transaction, then (negativ positive externalities exist, and 2) y3) the price system will allocate resources (inefficiently, efficiently). 4) A free rider has an incentive (to pay hot to pay) for a publie good. 5) T F If third parties are hurt by the...
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