Refer to exhibit 31 5 if a positive externality

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173. Refer to Exhibit 31-5. If a positive externality exists, then curve __________ represents the marginal social benefitcurve and the area __________ represents the market failure.a. 2;BDCb. 1; ABCc. 3; ABCd. 2; ABCe. 1;BDC
ANSWER:aPOINTS: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: Application174. Refer to Exhibit 31-5. If a positive externality exists, then the external benefits associated with the positiveexternality equal the distance between points __________, and the market output is __________.a.A and C; Q2b.B and D; Q1c.C and A; Q1d.B and C; Q1e. b and cANSWER:ePOINTS: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: Application175. Refer to Exhibit 31-5. If a positive externality exists, then curve 1 represents the __________, curve 2 represents the__________, curve 3 represents the __________ and Q1represents the __________.a. marginal private cost curve; demand curve; marginal social benefit curve; marketoutputb. demand curve; marginal social benefit curve; supply curve; market outputc. marginal social benefit curve; demand curve; marginal private cost curve; sociallyoptimal outputd. demand curve; marginal social benefit curve; supply curve; socially optimal outpute. marginal social benefit curve; supply curve; marginal private cost curve; marketoutputANSWER:bPOINTS: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: Application176. Refer to Exhibit 31-5. If a positive externality exists, then the external benefits associated with the positiveexternality equal the distance between points ____________ and the socially optimal output isa.C and A; Q1.
b.D and B; Q1.c.D and B; Q2.d.A and B; Q2.ANSWER:cPOINTS: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: Application177. Refer to Exhibit 31-5. If a positive externality exists, then the external benefits associated with the positiveexternality equala.P4- P2.b.P3- P1.c.P2- P1.d.P3- P2.e. a and bANSWER:ePOINTS: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
Spring
Professor
BassamY.Yousif
Tags
Macroeconomics, Externality, STANDA United States

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