An example of an external cost of driving automobiles is
A) fuel or energy for the vehicle
B) flat tire replacement
C) insurance and registration
D) road congestion
Correct Answer:
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Q20: When we drive our cars, we get
Q21: Equity means
A) equality
B) maximum net benefits
C) fairness
D)
Q22: If society had to pay external costs
Q23: By definition, a free rider is a
Q24: Refer to Figure 4.7. As MWTP _,
Q26: Due to free riding, public goods are
Q27: Refer to Figure 4.7. If the marginal
Q28: Market failure
A) is a problem only in
Q29: Refer to Figure 4.6. At quantities lower
Q30: Refer to Figure 4.5. If the group
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