Economics For Today
10th Edition
ISBN: 9781337613040
Author: Tucker
Publisher: Cengage Learning
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Chapter 14, Problem 1SQ
To determine
The meaning of the private cost.
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A large supermarket applied to build on land which was in an area of natural beauty. The local
government allowed the building, even though the natural beauty of the area would be lost,
because many jobs would be created and much needed income would be brought to the local
community.
Which economic ideas cannot be found in the above statement?
A external cost and private enterprise
B free market and the conservation of resources
C opportunity cost and improved standards of living
D public sector and external benefit
Property rights problems and the tragedy of the commons are most prevalent for which resource examples?
a.
Minerals.
b.
Private Forests
c.
Free access public lands
d.
Pollution with well-functioning cap-and-trade
e.
Private land.
Just answer true or false
1. Mining has negative externalities
2. The social cost of putting up a dam is reduced if the government ensures that the communities adversely affected are relocated in another area with sustainable sources of livelihood
3. Fireworks display during Christmas sponsored by an agency has both positive and negative externalities.
4. When a public space has been enclosed for a concert and people can only get in by buying tickets, the public space is no longer a public good that is non-rival and non-exclusive.
Chapter 14 Solutions
Economics For Today
Ch. 14.2 - Prob. 1.1GECh. 14.2 - Prob. 1.2GECh. 14.2 - Prob. 1.3GECh. 14.2 - Prob. 2.1GECh. 14.2 - Prob. 2.2GECh. 14.2 - Prob. 2.3GECh. 14.2 - Prob. 2.4GECh. 14 - Prob. 1SQPCh. 14 - Prob. 2SQPCh. 14 - Prob. 3SQP
Ch. 14 - Prob. 4SQPCh. 14 - Prob. 5SQPCh. 14 - Prob. 6SQPCh. 14 - Prob. 7SQPCh. 14 - Prob. 8SQPCh. 14 - Prob. 9SQPCh. 14 - Prob. 10SQPCh. 14 - Prob. 11SQPCh. 14 - Prob. 12SQPCh. 14 - Prob. 13SQPCh. 14 - Prob. 14SQPCh. 14 - Prob. 15SQPCh. 14 - Prob. 16SQPCh. 14 - Prob. 1SQCh. 14 - Prob. 2SQCh. 14 - From an economic viewpoint, the optimal amount of...Ch. 14 - Prob. 4SQCh. 14 - Prob. 5SQCh. 14 - Prob. 6SQCh. 14 - Prob. 7SQCh. 14 - Prob. 8SQCh. 14 - Prob. 9SQCh. 14 - Prob. 10SQCh. 14 - Prob. 11SQCh. 14 - Prob. 12SQCh. 14 - Prob. 13SQCh. 14 - Prob. 14SQCh. 14 - Prob. 15SQCh. 14 - Prob. 16SQCh. 14 - Prob. 17SQCh. 14 - Prob. 18SQCh. 14 - Prob. 19SQCh. 14 - Prob. 20SQ
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- A free rider is Group of answer choices A)Someone who consumes a public good but does not pay for it. B)Someone who only purchases resold goods or only uses items they can get for free. C)Someone who gives away items they have purchased. D)Someone who resells items they have purchased.arrow_forwardThe most efficient way to get firms to reduce pollution is to A set a uniform emissions standard and require all firms to meet the standards B make the worst polluters shut down and go out of businesses C make them pay for the social cost of production and let them decide how to respond to the higher costs D Provide firms and consumers with the information about the effects of their actions and encourage them to behave responsibly Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completelyarrow_forwardDefine and give an example of a common resource. Without government intervention, will people use this good too much or too little? Explain.arrow_forward
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