With positive externalities, _____
a. the market equilibrium occurs at a greater quantity than the socially optimal output
b. net social welfare is maximized
c. the social benefit curve lies above the private benefit curve
d. there is no deadweight loss
c
Economics
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If the price of a good falls, the marginal utility per dollar received from consuming a specific unit of that good
a. also falls b. stays the same c. rises d. will rise or fall, depending on the consumer e. remains unchanged, provided the consumer buys no more of the good
Economics
Ava states, "If raising the minimum wage to $10 an hour is good, like Senator Largess suggests, then raising it to $20 an hour would be twice as good." Is Ava correct? Why or why not?
Economics