When there is an external cost, the unregulated market
A) overproduces the good or service.
B) underproduces the good or service.
C) reaches the most efficient solution.
D) minimizes public welfare.
A
Economics
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The probability of being detected after committing a murder in Richland is 0.8, and if detected the murderer is imprisoned for a minimum of 10 years. What is the expected punishment in this case?
A) 2 years B) 8 years C) 12 years D) 10 years
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Clauses in life insurance policies that eliminate death benefits if the insured person commits suicide is an example of a
A) restrictive provision. B) restrictive covenant. C) anti-fraud exclusion. D) risk-based deductible.
Economics