Whenever net external benefits exist then:
A) economic profits are zero.
B) the social demand exceeds the market demand.
C) the benefits associated with a product fall short of those accruing to the market.
D) product differentiation increases the variety of products available to consumers.
Correct Answer:
Verified
Q49: Other things being equal,if a perfectly competitive
Q50: Social demand exceeds market demand whenever:
A) Private
Q51: Whenever external costs exist:
A) Social demand is
Q52: External costs arise when:
A) Private costs are
Q53: External costs are partly caused by:
A) the
Q55: Social costs are:
A) The full resource costs
Q56: Social costs:
A) Are less than private costs.
B)
Q57: External costs are equal to the difference
Q58: Social demand is equal to market:
A) Demand
Q59: If external benefits exist:
A) The market will
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