Economics 12E - Arnold - TB_385 - KEYWORDS: Bloom's:...

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KEYWORDS:Bloom's: Comprehension15. For a good where network externalities are present, having an early lead in the race forcustomers may be the only lead necessary to ultimately win the race for dominance in thegood‟smarket.a.Trueb.FalseANSWER:True
POINTS:1DIFFICULTY:ModerateNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure,a - DISC: Markets, market failure, and externalitiesKEYWORDS:Bloom's: ApplicationOTHER:Economics 24/716. All economists agree that to justify that market failure has occurred, it is sufficient to havethe market choose an inferior product over a superior product.
POINTS:1DIFFICULTY:ModerateNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure,a - DISC: Markets, market failure, and externalitiesKEYWORDS:Bloom's: ApplicationOTHER:Economics 24/717. To reduce pollution, economists generally prefer a corrective tax to a command-and-controlpolicy because the same goals can be achieved but in an efficient manner with a corrective tax.
POINTS:1DIFFICULTY:ModerateNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure,a - DISC: Markets, market failure, and externalities
KEYWORDS:Bloom's: Comprehension

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Term
Fall
Professor
FOUDY
Tags
Economics, Externalities, Market failure, Externality

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