Which equation correctly identifies social cost a

  • HKU
  • ECON 1210
  • ann77lee
  • 101
  • 96% (202) 193 out of 202 people found this document helpful

This preview shows page 3 - 6 out of 101 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Marketing 2018
The document you are viewing contains questions related to this textbook.
Chapter 6 / Exercise 1
Marketing 2018
Ferrell/Pride
Expert Verified
6. Which equation correctly identifies social cost?A) market price + external cost = social costB) external cost – market price = social costC) market price + cost of production = social costD) negative externality + positive externality = social costAns:
ADifficulty: EasySkill Descriptor: DefinitionalTopic: Introduction7. An external cost is a cost paid by:
DDifficulty: EasySkill Descriptor: DefinitionalTopic: Introduction8. When patients or farmers choose whether to use more antibiotics, they compare:
BDifficulty: MediumSkill Descriptor: Critical-ThinkingTopic: Introduction
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Marketing 2018
The document you are viewing contains questions related to this textbook.
Chapter 6 / Exercise 1
Marketing 2018
Ferrell/Pride
Expert Verified
9. Since the price of antibiotics does not include all the costs of using antibiotics, the price is too:
CDifficulty: MediumSkill Descriptor: Critical-ThinkingTopic: Introduction10. Which is an example of an external cost?A) secondhand smokeB) increased gas prices for drivers of SUVsC) the cost you pay your plumber to install a new hot water heaterD) your high electric bill that results from leaving your lights on all nightAns:
ADifficulty: MediumSkill Descriptor: Critical-ThinkingTopic: Introduction11. The social cost of driving an SUV is equal to:
BDifficulty: MediumSkill Descriptor: Critical-ThinkingTopic: Introduction12. A private cost is:
ADifficulty: EasySkill Descriptor: DefinitionalTopic: Introduction

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture