A country that is printing $100,000,000,000,000 bills probably has what problem?

A wheat farmer and a firm in a perfectly competitive market are similar in that

A) both will earn an economic profit if their total revenue equals their total cost. B) both face vertical demand curves. C) both have to lower their prices if a rival firm lowers its price. D) both face horizontal demand curves.

If consumption of a good by one person imposes costs on a party other than the producer,

a. the consumption creates a positive externality b. the good is a public good c. the consumption creates a negative externality d. too little of the good is produced from society's point of view e. the market will correct the problem if left alone