The additional benefit that Marvin gets from being vaccinated against the flu is known as the
A) external benefit.
B) marginal private benefit.
C) private cost.
D) social cost.
E) marginal social benefit.
B
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It is important to place particular stress on the role of primary education in the development strategy because of
(a) LDC's comparative advantage from basic skills education. (b) the law of diminishing returns. (c) development emphasis on poverty alleviation. (d) all of the above.
The Internet has made it possible to compare lots of prices without incurring a lot of cost. If Internet access is unequally distributed throughout the population one would expect
A) consumers with internet access to pay a higher price. B) consumers without internet access to pay a lower price. C) price discrimination against consumers without internet access. D) firms to charge the same price to all consumers.