Which of the following is an example of a positive externality?
A) A firm emits pollution into the air, harming members of society.
B) An auto body shop makes a lot of noise, reducing the property values of nearby homes.
C) A coastal dairy farmer's undeveloped land offers unimpeded views of the ocean for a nearby neighborhood.
D) You go to a store and pay $0.65 for a candy bar that you then eat.
Correct Answer:
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Q11: Compare market price and quantity to socially
Q12: The socially efficient level of output is
Q13: When negative externalities like pollution exist, competition
Q14: The optimal level of pollution is:
A) the
Q15: Explain why companies that choose low-pollution technologies
Q17: If a good is produced up to
Q18: People are unlikely to choose to pay
Q19: Exhibit 14-1 Private and social cost
Q20: Which of the following provides an example
Q21: An example of the command-and-control approach to
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