Which of the following is the best example of a good or service with an external benefit?

A) gasoline
B) education
C) garbage disposal
D) fertilizers
E) bread

B

Economics

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The table above has the domestic supply and domestic demand schedules for a product

What is the equilibrium price with no trade? Over what range of prices will the country export the good? Over what range will it import the good? Suppose the world price is $20. What is the quantity demanded, the quantity supplied, and the amount of the good exported or imported?

Economics

For each watch that Switzerland produces, it gives up the opportunity to make 50 pounds of chocolate. Germany can produce 1 watch for every 100 pounds of chocolate it produces

Which of the following is true about the comparative advantage between the two countries? A) Switzerland has the comparative advantage in chocolate. B) Germany has the comparative advantage in watches and chocolate. C) Germany has the comparative advantage in watches. D) Switzerland has the comparative advantage in watches.

Economics