41. Which of the following describes a situation where the marginal social cost is greater than the marginal private cost at equilibrium? Oligopoly Monopoly Positive externality Allocative efficiency Market inefficiency 42. A market in which private businesses do not pay all of the production costs themselves represents a ________ and will produce ________ than the socially optimal quantity. negative externality; less negative externality; more positive externality; more positive externality; less natural monopoly; less
41. Which of the following describes a situation where the marginal social cost is greater than the marginal private cost at equilibrium? Oligopoly Monopoly Positive externality Allocative efficiency Market inefficiency 42. A market in which private businesses do not pay all of the production costs themselves represents a ________ and will produce ________ than the socially optimal quantity. negative externality; less negative externality; more positive externality; more positive externality; less natural monopoly; less
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter10: Externalities
Section: Chapter Questions
Problem 1PA
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41.
Which of the following describes a situation where the marginalsocial cost is greater than the marginal private cost at equilibrium?
Which of the following describes a situation where the marginal
Oligopoly
|
|
Positive externality
|
|
Market inefficiency
|
42.
A market in which private businesses do not pay all of the production costs themselves represents a ________ and will produce ________ than the socially optimal quantity.
negative externality; less
|
negative externality; more
|
positive externality; more
|
positive externality; less
|
natural monopoly; less
|
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