If the Social Marginal Benefit is greater than the Social Marginal Cost:
A) Society's welfare will fall if another unit is produced.
B) Society's welfare will increase if another unit is produced.
C) Society's welfare will stay the same if another unit is produced.
D) Society's welfare is maximized.
Correct Answer:
Verified
Q2: Community surplus equals:
A) Producer surplus plus marginal
Q3: If there is a positive consumption externality,
Q4: The free rider problem occurs:
A) With monopolies
B)
Q5: A merit good:
A) Is one that is
Q6: A monopoly occurs when a firm dominates
Q7: With a negative production externality the amount
Q8: A demerit good:
A) Is one that is
Q9: An example of a demerit good is:
A)
Q10: The free market assumes that:
A) Consumers are
Q11: The extra satisfaction consumers gain from consuming
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