ECO 405 Week 4 Quiz - 4 out of 4 points As additional units of pollution control are added at some point each additional unit adds Answer Selected

ECO 405 Week 4 Quiz - 4 out of 4 points As additional units...

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4 out of 4 pointsAs additional units of pollution control are added, at some point each additional unit addsAnswer Selected Answer:Less than the previous unit to total benefitsCorrect Answer:Less than the previous unit to total benefitsQuestion 2 4 out of 4 pointsMarginal private cost (MPC) always includes:Answer Selected Answer:The extra costs of production of one more unit of a goodCorrect Answer:The extra costs of production of one more unit of a goodQuestion 3 4 out of 4 pointsThe market output level tends to be socially optimal whenAnswer Selected Answer:All costs and benefits are private and MSB=MSCCorrect Answer:All costs and benefits are private and MSB=MSCQuestion 4 4 out of 4 pointsWhich of the following creates a positive externality in production?Answer Selected Answer:
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Reducing the cost of producing of another goodCorrect Answer:Reducing the cost of producing of another goodQuestion 5 4 out of 4 pointsWhen the marginal private cost of an activity does not equal the marginal social cost, which of the following exists?Answer Selected Answer:Externality in productionCorrect Answer:Externality in productionQuestion 6 4 out of 4 pointsThe optimal level of pollution control occurs when Answer Selected Answer:MSB of control equals MSCCorrect Answer:MSB of control equals MSCQuestion 7 0 out of 4 pointsAn advantage of direct regulation as a method of controlling pollution is thatAnswer Selected Answer:Emission control standards can be enforced readilyCorrect Answer:It seems straightforward and fairQuestion 8
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0 out of 4 pointsWhich of the following creates a negative externality in consumption?
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  • Spring '14
  • Correct Answer, Externality

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