A person removes the anti-pollution devices on his automobile. An external cost associated with this is
A) the feeling of guilt the person feels for violating the law.
B) the ticket he gets when a highway patrol officer pulls him over.
C) the man's neighbor washes his car more often because of increasing smog.
D) the man buys less gasoline, reducing the income of local gas stations.
Answer: C
Economics
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___________ than would be the case if all firms had identical products and prices.
a. flatter b. steeper c. farther to the right d. less elastic
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The utility of a good is:
a. different for different consumers. b. the same for all consumers. c. constant no matter how much is consumed. d. related to the cost of producing it. e. easily measured.
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