Externalities are fundamentally the result of
a. the absence of competition in a market.
b. the lack of well-defined or enforced property rights.
c. poor information on the part of consumers.
d. the presence of significant comparative advantages in production.
B
Economics
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If income doubles and the prices of all goods remain the same, the budget line will shift outward by 50 percent along each axis
a. True b. False
Economics
If a straight line passes through the point x = 14 and y = 3 and also through the point x = 4 and y = 10, the slope of this line is
A) negative 11 divided by 6. B) seven-tenths. C) negative seven-tenths. D) 6 divided by 11.
Economics