A merit good:
A) Is one that is available to everyone.
B) Cannot be provided at all in the free market.
C) Is illegal.
D) Is one that society believes has more benefits than individuals themselves think it has.
Correct Answer:
Verified
Q1: If the Social Marginal Benefit is greater
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)
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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