In the presence of externalities of any sort:
A) competitive general equilibrium is inefficient.
B) competitive general equilibrium does not exist.
C) competitive general equilibrium is efficient.
D) government regulation is necessary.
Correct Answer:
Verified
Q1: Public goods:
A)refer to the goods flowing to
Q2: Property rights are limited:
A)by people's ignorance.
B)in order
Q3: According to Coase, the allocation of resources
Q4: According to the Coase theorem part 1:
A)property
Q5: Nonprofit firms:
A)have no residual claimants.
B)cannot be analyzed
Q7: Better defined property rights are always preferred
Q8: Holding property rights means that:
A)an individual does
Q9: The cost- benefit analysis is fraught with
Q10: Positive externalities are created when:
A)farmers spray pesticide
Q11: According to the Coase theorem part I,
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