A demerit good:
A) is a public good
B) involves a positive externality
C) is overprovided in the free market
D) is under provided in the free market
Correct Answer:
Verified
Q4: Which best describes consumer surplus?
A)the price consumers
Q5: Which of the following statements is NOT
Q6: Community surplus equals:
A)producer surplus minus consumer surplus
B)profits
Q7: Monopoly power in a market is likely
Q8: A positive consumption externality occurs when:
A)the social
Q9: A merit good:
A)is a public good
B)involves a
Q11: A public good will probably:
A)be expensive in
Q12: Asymmetric information occurs when:
A)information is free
B)buyers and
Q13: A situation where people who have taken
Q14: An insurance company can protect itself from
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