Refer to exhibit 31 l if the exhibit represents a

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37. Refer to Exhibit 31-l. If the exhibit represents a negative externality situation, the benefit of expanding output from Q2to Q1is the area ofa. ABC.b.Q2BCQ1c.Q2BAQ1d.Q2EAQ1...
ANSWER:c
POINTS:1DIFFICULTY:ChallengingNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure, a - DISC:Markets, market failure, and externalitiesKEYWORDS:Bloom's: Application38. Refer to Exhibit 31-l. If the exhibit represents a negative externality situation, the private cost of expanding outputfrom Q2to Q1is the area of...d
POINTS:1DIFFICULTY:ChallengingNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure, a - DISC:Markets, market failure, and externalitiesKEYWORDS:Bloom's: Application39. Refer to Exhibit 31-1. If the exhibit represents a negative externality situation, the social cost of expanding outputfrom Q2to Q1is the area of...b
POINTS:1DIFFICULTY:ChallengingNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure, a - DISC:Markets, market failure, and externalitiesKEYWORDS:Bloom's: Application40. Refer to Exhibit 31-1. If the exhibit represents a negative externality situation, the net social cost of expanding outputfrom Q2to Q1is the area of..
a
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: Application41. When negative externalities are involved, the market is said toa. fail, because it underproduces the good connected with the negative externality.b. fail, because it overproduces the good connected with the negative externality.c. succeed, because it produces the socially optimal quantity of the good connected withthe negative externality.d. be "in optimum," because the equilibrium fully adjusts for the negative externality.ANSWER:b
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: Comprehension

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Term
Spring
Professor
BassamY.Yousif
Tags
Macroeconomics, Externality, STANDA United States

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