Refer to Figure 10.3. What is the competitive price?

According to your text, the so-called "Superbowl Effect"

A) is an example of a mere statistical correlation. B) is an example of correct cause-and-effect reasoning. C) is a sound discovery in economic theory. D) is based upon a false set of facts.

A negative externality occurs when

A) there is rent-seeking. B) benefits are imposed on individuals that are not part of a transactions. C) there is creative destruction. D) costs are imposed on individuals that are not part of a transaction.