The Industrial Revolution refers to the stream of new technology and the resulting growth of output than began in England toward the end of the eighteenth century

If an external benefit is present, then the

A) marginal private benefit curve lies above the marginal private cost curve. B) marginal social benefit curve lies above the marginal private benefit curve. C) marginal social cost curve lies above the marginal private benefit curve. D) marginal social benefit is equal to the marginal social cost. E) marginal social benefit curve is the same as the marginal private benefit curve.

It is difficult to practice arbitrage for untradable services or for goods which have a few knowledgeable traders

Indicate whether the statement is true or false