A federally funded, state-administered program that pays medical and hospital costs for welfare recipients and other low-income people is

In the absence of externalities, the "invisible hand" leads a market to maximize

a. producer profit from that market. b. total benefit to society from that market. c. both equality and efficiency in that market. d. output of goods or services in that market.

Pollution rights may be traded if

A. polluters try to hide pollution. B. administrators are uncertain about Pigouvian taxes. C. there is no market for pollution.