History Bookmarks People Window Help ECO × Take Test: Curency class assi x-G Che

Question

History Bookmarks People Window Help ECO × Take Test: Curency class assi x-G Chegg Study I Guided Solutio x board.ecu.edu/webapps/assessment/take/launch.jsp?course,assessment_id·473 26018course,i QUESTION 1 With a negative externality, 0 a. the private cost is greater than the total cost to society (or social cost. Ob. the total benefit to society (or social benefit) is greater than the private benefit. Oc. the private benefit is greater than the total benefit to society (or social benefit) O d. the total cost to society (or social cost) is greater than the private cost. QUESTION 2 When a positive externality is internalized, what will happen to the market price and quantity? 0 a. The equilibrium price will increase and the equilibrium quantity will decrease. O b. The equilibrium price will decrease and the equilibrium quantity will decrease. c. The equilibrium price will decrease and the equilibrium quantity will increase. O d. The equilibrium price will increase and the equilibrium quantity will increase. QUESTION 3 Which of the following is an example of a market-based policy? 0 a. Requiring all cars to have catalytic converters. b. Establishing a minimum drinking age of 21. c. Setting a maximum pollution limit for each electric utility. O d. Levying a tax on mercury emissions. QUESTION 4 Table 1 Click Save and Submit to save and submit. Click Save All Answers to save all answers.

Explanation / Answer

First question is answered below

1. Correct option: (d)

Reason: In case of negative externality, the good imposes an external cost to other parties. As a result, total cost in the economy increases to become a sum of private cost + external cost = social cost

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.