Economic growth is most likely to solve the problems of

a. environmental pollution.
b. world poverty.
c. emotional stress.
d. social alienation.

b

Economics

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If production of a good creates external benefits, a competitive market will likely produce

a. less output than would maximize profit. b. more output than would maximize profit. c. less output than is efficient. d. more output than is efficient.

Economics

In order for a natural monopoly to develop, it

A. is important that the firm be very large. B. is important that the firm prices its product below cost. C. is not the absolute size of the firm but its size relative to the total market demand that is important. D. must be in the presence of government intervention.

Economics