In which of the following situations would a positive

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45. In which of the following situations would a positive externality most likely be involved?a.Shawn is sitting at home one day when she gets a telephone call, informing her thatshe has won $10,000 in a contest she entered three months ago.b.There are eight houses in the neighborhood where Rodney lives. Rodney likesnice-looking yards, and last week his neighbors began to beautify their yards.c.Willy needs eight hours of sleep each night to feel good. Last night he got eighthours of sleep.d.Patrick received an A on a biology exam. He is feeling better about his chances ofgetting admitted to medical school.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: Application46. The side effect of an action that increases the well-being of others is called
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d.a positive externality.ANSWER:dPOINTS: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: Comprehension47. Suppose the production of a good results in positive externalities. If output occurs at theintersection of the marginal social benefits curve and the supply curve, thena
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: Application

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Term
Fall
Professor
FOUDY
Tags
Economics, Market failure, Externality, Default City
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Exploring Microeconomics
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Chapter 8 / Exercise 1
Exploring Microeconomics
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