Blackboard QUESTION 15 An extenality is a the proposition that private parties c
ID: 1127946 • Letter: B
Question
Blackboard QUESTION 15 An extenality is a the proposition that private parties can bargain without cost over the allocation of resources. o b the uncompensated impact of one person's actions on the well-being of a bystander a market equilibrium tax o d the costs that parties incur in the process of agreeing and following through on a bargain QUESTION 16 The law of demand states that, other things equal, o a when the price of a good rises, the demand for the good falls o b. when the price of a good falls, the quantity demanded of the good rises. when the price of a good falls, the demand for the good rises. O d when the price of a good rises, the quantity demanded of the good rises QUESTION 17 The amount of deadweight loss that results from a tax of a given size is determined by O a. whether the tax is levied on buyers or sellers b the number of buyers in the market relative to the number of sellers . the price elasticities of demand and supply d the ratio of the tax per unit to the effective price received by sellers QUESTION18 Marginal cost tells us the a amount by which output rises when labor is increased by one unit b.marginal increment to profitability when price is constant c amount by which total cost rises when output is increased by one unit. d value of all resources used in a production process QUESTION T9Explanation / Answer
15. The correct answer is B.
16. The correct answer is B.
17. The correct answer is C.
18. The correct answer is C.
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