Which of the following is most likely to cause an increase in demand for land?
a. A large study confirms that citrus fruits have anticancer properties.
b. A social media celebrity popularizes outdoor meditation rituals.
c. College graduates typically buy their first home in their early thirties.
d. The national park saw an increase in overnight visitors this season.
a. A large study confirms that citrus fruits have anticancer properties.
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Gus happens to spot a couple of sunbathers during his walk in the park. The sunbathers generate
A) a negative externality if Gus is disturbed by their activity. B) a positive externality if Gus enjoys witnessing their activity. C) both of the above. D) neither of the above, as long as no monetary payment was involved.
Drivers who enter an expressway during the rush hour create negative externalities whenever they
A) could have taken another route. B) drive under the speed limit. C) fail to yield as they merge. D) have no other passengers in their vehicles. E) inadvertently slow down all the drivers behind them.