A free rider
A) benefits from a positive externality without paying for it.
B) has a horizontal demand curve.
C) places no value on the good provided.
D) All of the above.
A
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If the demand for a good is elastic, then
A) people do not change the quantity they demand when the price of the good changes. B) a change in price leads to a smaller percentage change in the quantity demanded. C) people substantially decrease the quantity of the good they buy if its price increases by a small percentage. D) a change in the quantity demanded is smaller than the change in price. E) the quantity demanded divided by the price exceeds 1.00.
A government regulation that bans the use of a certain polluting technology in the production of a good is an example of a ________ to solve an externality
A) social enforcement mechanism B) command and control approach C) market-based approach D) Coasian approach