A free-rider problem exists when A. a private good is produced B. negative externalities exist C....
A free-rider problem exists when
A. a private good is produced
B. negative externalities exist
C. people receive a benefit for which they do no need to pay
D. firms impose a cost on third parties
E. any market is in equilibrium
Homework Answers
A free-rider problem exists when people receive a benefit for which they do no need to pay
option C is the correct answer
Add Answer to:
A free-rider problem exists when
A. a private good is produced
B. negative externalities exist
C....
I. The pollution emitted by a car is an example of atn b. social eextenal e....
I. The pollution emitted by a car is an example of atn b. social eextenal e. publio-good 2. Lila shares a house with two other people. She is a concert pianist and often practices an home. One roommate enjoys listening to her practice, but the other does not. For the roommate who enjoys listening to Lila play, this is an example of for the other , it is an example of a. the tragedy of the commons; b. e. a...
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...
2. The free-rider problem is that a. everyone has the incentive to let others pay the...
2. The free-rider problem is that a. everyone has the incentive to let others pay the costs of providing public goods. b. criminals commit crimes in order to get free room and board in jail. c. if you don't pay for something, you don't value it. d. elected officials attach all kinds of special-interest provisions to spending bills. 4. Which of the following would be the best example of a monopolistically competitive firm? a. sugar farmer. b. railway transportation. c....
26. When intervention is needed to resolve negative externalities, economists typically favour market based mechanisms over...
26. When intervention is needed to resolve negative externalities, economists typically favour market based mechanisms over command and control approaches because: (a) the market mechanism always produces an inefficient allocation of resources. (b) governments enforcing regulations make inefficient choices. (c) private firms allocate resources more efficiently than governments in situations where negative externalities exist. (d) countries with governments using command and control policies have always been shown to not produce the best outcome. (e) this addresses the problem of negative...
21. By including the costs from negative externalities imposed on society, an efficient level of output...
21. By including the costs from negative externalities imposed on society, an efficient level of output will be produced when: (a) marginal benefit equals opportunity cost. (b) marginal private benefit equals marginal private cost. (c) market demand equals marginal private cost. (d) marginal private cost equals marginal social cost. (e) marginal benefit equals marginal social cost. 22. What is NOT an example of a positive externality? (a) Improved educational outcomes in society. (b) Winning $1 million dollars at the casino...
TCUITECE Question 23 A surplus of a product will arise when price is • above equilibrium,...
TCUITECE Question 23 A surplus of a product will arise when price is • above equilibrium, with the result that quantity demanded exceeds quantity supplied. above equilibrium, with the result that quantity supplied exceeds quantity demanded. below equilibrium, with the result that quantity demanded exceeds quantity supplied. below equilibrium, with the result that quantity supplied exceeds quantity demanded. 071 Points Question 28 Because of the free-rider problem, the market demand for a public good is overstated. the market demand for...
QUESTION 29 Because of education society experiences a a. positive private benefit b. positive private cost...
QUESTION 29 Because of education society experiences a a. positive private benefit b. positive private cost c. positive externality d. negative externality QUESTION 30 over the last 50 years. Spending per student in the U.S. has ca. not exhibited any growth b. experienced inconsistent rates of growth c. grown rapidly cd.grown slowly QUESTION 31 Governments allocate large budgets to education at K-12 and university levels because and to ca education generates positive externalities for society, increase people's incentives to obtain...
Problem Set 2. Market Failure: Externalities and Common Pool Resources EconS 326 1. Cigarette production requires...
Problem Set 2. Market Failure: Externalities and Common Pool Resources EconS 326 1. Cigarette production requires use of energy, water and other resources. When planting tobacco leaves, fertilizer is used that creates runoff and water pollution in waterways. Tobacco smoke pollutes indoor and outdoor environments and remains a pervasive and persistent source of toxicants long after the cigarette is extinguished. a. Is there too little, too much or the correct amount of cigarette produced or consumed from a socially optimal...
26. what environmental problem arises from common property resources? a. negative externality. b. overexploitation. c. government...
26. what environmental problem arises from common property resources? a. negative externality. b. overexploitation. c. government failure. d. high transaction cost. 27. Externalities are a. exports. b. illegal businesses. c. prisoners on work release d. costs or benefits not reflected in market prices. 29. The efficient quantity of a public good is that for which marginal social cost equals a. marginal private cost. b. marginal external cost. c. average social cost. d. marginal social benefit. 30. Which of the following...
1. Externalities - Definition and examples Aa Aa E An extemality arises when a firm or...
1. Externalities - Definition and examples Aa Aa E An extemality arises when a firm or person engages in an activity that influences the well-being of a third party, yet neither pays nor receives any compensation for that effect. If the impact on the third party is beneficial, it is called a extemality. With this type of extemality, in the absence of goverment intervention, the equilibrium quantity produced will be _ than the efficient quantity. The following graph shows the...
I. The pollution emitted by a car is an example of atn b. social eextenal e. publio-good 2. Lila shares a house with two other people. She is a concert pianist and often practices an home. One roommate enjoys listening to her practice, but the other does not. For the roommate who enjoys listening to Lila play, this is an example of for the other , it is an example of a. the tragedy of the commons; b. e. a...
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...
TCUITECE Question 23 A surplus of a product will arise when price is • above equilibrium, with the result that quantity demanded exceeds quantity supplied. above equilibrium, with the result that quantity supplied exceeds quantity demanded. below equilibrium, with the result that quantity demanded exceeds quantity supplied. below equilibrium, with the result that quantity supplied exceeds quantity demanded. 071 Points Question 28 Because of the free-rider problem, the market demand for a public good is overstated. the market demand for...
QUESTION 29 Because of education society experiences a a. positive private benefit b. positive private cost c. positive externality d. negative externality QUESTION 30 over the last 50 years. Spending per student in the U.S. has ca. not exhibited any growth b. experienced inconsistent rates of growth c. grown rapidly cd.grown slowly QUESTION 31 Governments allocate large budgets to education at K-12 and university levels because and to ca education generates positive externalities for society, increase people's incentives to obtain...
Problem Set 2. Market Failure: Externalities and Common Pool Resources EconS 326 1. Cigarette production requires use of energy, water and other resources. When planting tobacco leaves, fertilizer is used that creates runoff and water pollution in waterways. Tobacco smoke pollutes indoor and outdoor environments and remains a pervasive and persistent source of toxicants long after the cigarette is extinguished. a. Is there too little, too much or the correct amount of cigarette produced or consumed from a socially optimal...
1. Externalities - Definition and examples Aa Aa E An extemality arises when a firm or person engages in an activity that influences the well-being of a third party, yet neither pays nor receives any compensation for that effect. If the impact on the third party is beneficial, it is called a extemality. With this type of extemality, in the absence of goverment intervention, the equilibrium quantity produced will be _ than the efficient quantity. The following graph shows the...
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