Figure 5-10
In the indifference curve pictured in Figure 5-10, which of the following is clearly true?
a.
B is preferred to D.
b.
B is preferred to C.
c.
A is preferred to B.
d.
C is preferred to D.
b
Economics
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When a negative externality exists, the private market produces
A) products at a low opportunity cost. B) less than the economically efficient output level. C) products at a high opportunity cost. D) more than the economically efficient output level.
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An example of the "equity vs. simplicity" tradeoff is the tax treatment of
A. capital gains. B. spouses. C. earned income. D. children.
Economics