The change in total social benefits per unit change in the amount of the

The change in total social benefits per unit change

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The change in total social benefits per unit change in the amount of the activityCorrect Answer:The change in total social benefits per unit change in the amount of the
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activityQuestion 9 4 out of 4 pointsCosts incurred by the producer for the use of self-owned resources are calledAnswer Selected Answer:Implicit costsCorrect Answer:Implicit costsQuestion 10 4 out of 4 pointsWhich of the following creates a negative externality in consumption?Answer Selected Answer:Playing loud musicCorrect Answer:Playing loud musicQuestion 11 4 out of 4 pointsThe efficient level of pollution is zero only if theAnswer Selected Answer:Marginal cost of pollution control is zero
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Correct Answer:Marginal cost of pollution control is zeroQuestion 12 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 13 0 out of 4 pointsWhen pollution is not regulated in the market, polluting firms willAnswer Selected Answer:Under-utilize resources and charge low pricesCorrect Answer:Over-utilize resources and charge low pricesQuestion 14 0 out of 4 pointsWhich of the following creates a positive externality in production?Answer Selected Answer:
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VaccinationsCorrect Answer:Reducing the cost of producing of another goodQuestion 15 4 out of 4 pointsIf a pollution tax is placed on a firm emitting pollution, the firm will pay the tax, rather than reduce its emissions, as long as the tax isAnswer Selected Answer:Below its MPC of pollution controlCorrect Answer:Below its MPC of pollution controlQuestion 16 4 out of 4 points
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  • Correct Answer, Externality

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