Foundations Of Economics, Global Edition
8th Edition
ISBN: 9781292217888
Author: Robin Bade and Michael Parkin
Publisher: PEARSON
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Question
Chapter 10, Problem 6IAPA
To determine
To compute:
The cost to taxpayers if the government subsidizes college to the extent where efficient number of students enroll.
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A situation in which the Marginal Social Cost is greater than the Marginal Private Cost is
a. Positive Consumption Externality
○ b. Positive Production Externality
c. Negative Production Externality
○ d. Negative Consumption Externality
Clear my choice
Which of these is an ideal economic situation that leads to a positive externality?
a.
Social costs are higher than private costs
b.
Private costs are equal to social costs
c.
Private costs are higher than social costs
d.
Private costs are lower than social costs
Sub
noint(s) possible
Next question
The graph shows the marginal social cost and the marginal private cost of
producing liquid fertilizer.
Cost (dollars per ton)
1000-
When the 2,000th ton of liquid fertilizer is produced in a week, what is the marginal
external cost?
900-
MSC
800-
700-
em
600-
When the 2,000th ton of liquid fertilizer is produced in a week, the marginal
external cost is
a ton.
500-
A. $800
MC
400-
О в. $300
300-
As
O C. $200
200-
O D. $500
100-
SS
0-
Quantity (thousands of tons per week)
O Time Remaining: 00:58:17
Assignments (6) v
O O O O
Chapter 10 Solutions
Foundations Of Economics, Global Edition
Ch. 10 - Prob. 1SPPACh. 10 - Prob. 2SPPACh. 10 - Prob. 3SPPACh. 10 - Prob. 4SPPACh. 10 - Prob. 5SPPACh. 10 - Prob. 6SPPACh. 10 - Prob. 7SPPACh. 10 - Prob. 8SPPACh. 10 - Prob. 9SPPACh. 10 - Prob. 10SPPA
Ch. 10 - Prob. 1IAPACh. 10 - Prob. 2IAPACh. 10 - Prob. 3IAPACh. 10 - Use the following information to work Problems 3...Ch. 10 - Prob. 5IAPACh. 10 - Prob. 6IAPACh. 10 - Prob. 7IAPACh. 10 - Prob. 8IAPACh. 10 - Prob. 9IAPACh. 10 - Prob. 1MCQCh. 10 - Prob. 2MCQCh. 10 - Prob. 3MCQCh. 10 - Prob. 4MCQCh. 10 - Prob. 5MCQCh. 10 - Prob. 6MCQ
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- What is the concept of a negative externality in economics? A. A benefit received by individuals who did not incur the cost B. A cost incurred by individuals who did not receive the benefit C. A situation where external parties receive equal benefits and costs D. A situation where the government intervenes in the marketarrow_forward1. When a production externality has a beneficial effect on a bystander at the market equilibrium a. the market will be efficient b. the social cost of production is less than the private cost c. society is unlikely to benefit from production subsidies d. the private benefit from consumption is less than the social cost of production 2. In the short term, we would expect home construction to have a: a. High elasticity of demand b. Low elasticity of demand c. Low elasticity of supply d. High elasticity of supply 3. Which of the following would be associated with monetary policy operations in response to an economic downturn: a. A shift of the money demand curve to the right. b. A shift of the money supply curve to the right. c. A shift of the money demand curve to the left. d. A shift of the money supply curve to the left. 4. If the government cuts government spending, then over time the government budget deficit: a. will definitely rise b. will definitely fall c. may fall, or…arrow_forwardMankiw Chapter 11 question 2 Are the externalities associated with public goods generally positive or negative? Use examples in your answer. Is the free market quantitiy of public goods generally greater or less than efficient quantity?arrow_forward
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