USU-Intro To MacroEcon - Assignment 11

2 3 4 5 positive externalities exist then private

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Unformatted text preview: . 3. 4. 5. positive externalities exist then private costs and social costs are identical negative externalities exist the market outcome will be inefficient None of these Question 5 (1 point) The market for steel In the figure above, external costs are equal to 1. P s - P p 2. Q p - Q s 3. b � c 4. a 5. d Question 6 (1 point) When the government imposes a tax on production, 1. production will invariably increase 2. the benefits of consumption increase, so the demand curve shifts to the right 3. both the demand and supply curves shift to the left 4. there is no change in demand or supply 5. the costs of production increase, so the supply curve shifts to the left Question 7 (1 point) The Clean Air Act of 1972 required some companies to install the "best available" pollution control technologies. This was an exampl...
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This homework help was uploaded on 03/18/2014 for the course ECON 2010 taught by Professor Staff during the Spring '08 term at Utah Valley University.

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