Homework Answers
21. Too low (as positive external benefits increase the efficient market price in order to increase supply)
22. Underconsumed because consumers only consider the private benefits of consumption
23. If transaction costs are low and property rights are well defined (they are a necessary condition for Coase theorem)
24. Income tax are higher
25. Marginal tax rate (it will help decide whether the tax imposed on additional work hour is greater than or less than money made)
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1 5 -2019 Fall Term (1) - Question Completion Status QUESTION 21 Compared with the efficient outcome, the market pr...
QUESTION 21 Compared with the efficient outcome, the market price of a good that generates external...
QUESTION 21 Compared with the efficient outcome, the market price of a good that generates external benefits is too high too low O optimal O equal to the efficient price QUESTION 22 Products that create external benefits are over-consumed because the private benefits exceed the private costs under-consumed because consumers only consider the private benefits of consumption O optimally consumed as long as private benefits equal private costs O underconsumed because the social costs exceed the social benefits
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...
Products that create external benefits are over-consumed because the private benefits exceed the private costs under...
Products that create external benefits are over-consumed because the private benefits exceed the private costs under consumed because consumers only consider the private benefits of consumption O optimally consumed as long as private benefits equal private costs underconsumed because the social costs exceed the social benefits QUESTION 23 The Coase theorem suggests that private bargains will ensure the efficiency of markets even when externalities exist O but only in the presence of government regulation if consumers have more information regarding...
QUESTION 22 Products that create external benefits are over-consumed because the private benefits exceed the private...
QUESTION 22 Products that create external benefits are over-consumed because the private benefits exceed the private costs under-consumed because consumers only consider the private benefits of consumption O optimally consumed as long as private benefits equal private costs O underconsumed because the social costs exceed the social benefits 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...
Products that create external benefits are over-consumed because the private benefits exceed the private costs under-consumed...
Products that create external benefits are over-consumed because the private benefits exceed the private costs under-consumed because consumers only consider the private benefits of consumption optimally consumed as long as private benefits equal private costs underconsumed because the social costs exceed the social benefits
men u nchsp course assessment_id 1333381_1&course_id 1773666 1&content id=43280655 1&step rul - QC Li...
men u nchsp course assessment_id 1333381_1&course_id 1773666 1&content id=43280655 1&step rul - QC Libraries Queens College Question Completion Status QUESTION 36 2 points Average total cost is very high when a small amount of output is produced because average variable cost is high average fixed cost is high marginal cost is high marginal product is high 2 points Save Arts QUESTION 37 Average total cost is increasing whenever total cost is increasing marginal cost is increasing marginal cost is less...
TULE TUL. MULTI 21 NUV-2019 Fall Torm U... Question Completion Status: QUESTION 26 As tax laws become more complex...
TULE TUL. MULTI 21 NUV-2019 Fall Torm U... Question Completion Status: QUESTION 26 As tax laws become more complex compliance costs are likely to decrease the government will collect more tax revenue tax evasion and avoidance will decrease the administrative burden of taxes will increase QUESTION 27 If the government imposes a $3000 tax on everyone, the tax would be: an income tax a consumption tax alump-sum tax a marginal tax QUESTION 28 Which of these tax systems does not...
QUESTION 3 According to the Coase Theorem, externality problems: Do not exist in reality, because all...
QUESTION 3 According to the Coase Theorem, externality problems: Do not exist in reality, because all costs and benefits are internal to firms O Can be solved through private negotiations without the need for government intervention Must only be resolved by government action, through either taxes or subsidies O Can never be resolved adequately because one party always gains while the other loses QUESTION 4 If there are external benefits associated with the consumption of a good or service: O...
Question Completion Status: QUESTION 1 exists in society. When I benefit because you increase your education a ca....
Question Completion Status: QUESTION 1 exists in society. When I benefit because you increase your education a ca. positive private cost b. positive private benefit C. negative externality d. positive externality QUESTION 2 When a positive externality is present the market will produce a. too little and charge more than a fair market value price. b. too little product and charge less than a fair market value price. C. an efficient amount and charge a fair price. d. too much...
Question Completion Status QUESTION 25 Which of these is most influential on your decision to work...
Question Completion Status QUESTION 25 Which of these is most influential on your decision to work extra hours at your job o the averge tax rate the total tax bill the marginal tax rate e the lump sum tax rate QUESTION 26 As tax laws become more complex compliance costs are likely to decrease e the government will collect more tax revenue o tax evasion and avoidance will decrease e the administrative burden of taxes will increase QUESTION 27 If...
QUESTION 21 Compared with the efficient outcome, the market price of a good that generates external benefits is too high too low O optimal O equal to the efficient price QUESTION 22 Products that create external benefits are over-consumed because the private benefits exceed the private costs under-consumed because consumers only consider the private benefits of consumption O optimally consumed as long as private benefits equal private costs O underconsumed because the social costs exceed the social benefits
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...
Products that create external benefits are over-consumed because the private benefits exceed the private costs under consumed because consumers only consider the private benefits of consumption O optimally consumed as long as private benefits equal private costs underconsumed because the social costs exceed the social benefits QUESTION 23 The Coase theorem suggests that private bargains will ensure the efficiency of markets even when externalities exist O but only in the presence of government regulation if consumers have more information regarding...
QUESTION 22 Products that create external benefits are over-consumed because the private benefits exceed the private costs under-consumed because consumers only consider the private benefits of consumption O optimally consumed as long as private benefits equal private costs O underconsumed because the social costs exceed the social benefits 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...
men u nchsp course assessment_id 1333381_1&course_id 1773666 1&content id=43280655 1&step rul - QC Libraries Queens College Question Completion Status QUESTION 36 2 points Average total cost is very high when a small amount of output is produced because average variable cost is high average fixed cost is high marginal cost is high marginal product is high 2 points Save Arts QUESTION 37 Average total cost is increasing whenever total cost is increasing marginal cost is increasing marginal cost is less...
TULE TUL. MULTI 21 NUV-2019 Fall Torm U... Question Completion Status: QUESTION 26 As tax laws become more complex compliance costs are likely to decrease the government will collect more tax revenue tax evasion and avoidance will decrease the administrative burden of taxes will increase QUESTION 27 If the government imposes a $3000 tax on everyone, the tax would be: an income tax a consumption tax alump-sum tax a marginal tax QUESTION 28 Which of these tax systems does not...
QUESTION 3 According to the Coase Theorem, externality problems: Do not exist in reality, because all costs and benefits are internal to firms O Can be solved through private negotiations without the need for government intervention Must only be resolved by government action, through either taxes or subsidies O Can never be resolved adequately because one party always gains while the other loses QUESTION 4 If there are external benefits associated with the consumption of a good or service: O...
Question Completion Status: QUESTION 1 exists in society. When I benefit because you increase your education a ca. positive private cost b. positive private benefit C. negative externality d. positive externality QUESTION 2 When a positive externality is present the market will produce a. too little and charge more than a fair market value price. b. too little product and charge less than a fair market value price. C. an efficient amount and charge a fair price. d. too much...
Question Completion Status QUESTION 25 Which of these is most influential on your decision to work extra hours at your job o the averge tax rate the total tax bill the marginal tax rate e the lump sum tax rate QUESTION 26 As tax laws become more complex compliance costs are likely to decrease e the government will collect more tax revenue o tax evasion and avoidance will decrease e the administrative burden of taxes will increase QUESTION 27 If...
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