+1 (347) 474-1028 info@essayparlour.com

property that… Show more Question 11 Common property is Qu

Paper help Economics property that… Show more Question 11 Common property is Qu

Economics

property that… Show more Question 11 Common property is Qu

property that… Show more Question 11 Common property is Question 11 options: an externality. property that is owned by everyone and therefore by no one. exclusive rights of ownership. a social cost. Question 12 An externality exists when Question 12 options: there are opportunity costs. there are external costs. there are internal costs. there are private costs. Question 13 An example of a situation in which the social costs are greater than the private costs would be Question 13 options: a new restaurant takes business away from an established restaurant. when a member of a rock band’s ability to hear deteriorates from performing in so many loud concerts. a physician who cannot examine patients with a stethoscope in an examination room adjacent to an airport. hand-held calculators putting slide rule manufacturers out of business. Question 14 Exclusive rights of ownership that allow the use, transfer, and exchange of property are called Question 14 options: nonexclusive property rights. private property rights. public property rights. common property rights. Question 15 A good which has social costs that exceed private costs has a price Question 15 options: equal to marginal social cost. that is too high. that is too low. that is inefficient because price exceeds marginal social cost. Question 16 The costs of pollution abatement Question 16 options: decrease at a decreasing rate with the increase in pollution abatement. increase at an increasing rate with the increase in pollution abatement. decrease at an increasing rate with the increase in pollution abatement. increase at a decreasing rate with the increase in pollution abatement. Question 17 A major reason to recycle is Question 17 options: to reduce the amount of land devoted to forests. to save scarce resources. to reduce the amount of foreign trade. to create jobs. Question 18 Which of the following statements is correct? Question 18 options: In the United States and Western Europe there are fewer forests than 100 years ago. In the United States and Western Europe there are more forests than 100 years ago. In the United States, but not in western Europe, there are more forests today than there were 100 years ago, although there are less than 50 years ago. In the United States there are less forests today than 100 years ago, but there are more forests in Western Europe. Question 19 Refer to the above figure. The marginal cost of pollution abatement is curve Question 19 options: (1). (2). (3). (4). Question 20 The social costs of an activity are greater than the private costs of the activity when Question 20 options: the external costs of the resource-using activity are zero. a person does not pay all costs associated with a particular resource-using activity. the internal costs of the resource-using activity are positive. the internal costs of the resource-using activity are less than the external costs of the activity. • Show less

Order Now

Ready to try a high quality writing service? Get a discount here