As a resource becomes more scarce, we expect its price to

An inframarginal positive externality _____

a. requires subsidization to reach an optimal level of output b. requires regulation to reach an optimal level of output c. requires corrective taxation to reach an optimal level of output d. requires no action because the optimal level of output has been reached

The principal advantage of the game theory approach is that it allows us to

a. take all possible information into consideration before developing a theory b. better understand why the firm in a competitive industry avoids games c. better understand how the government should regulate a natural monopoly d. better understand decision making when one person's choices affect another person's choices e. understand the relationship between the firm and the industry demand curves