Benefits that accrue directly to the decision maker of a market exchange are called:

A. social benefits.
B. network benefits.
C. external benefits.
D. private benefits.

Answer: D

Economics

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Consider a nation in which most workers are unionized. If all the nation's unions band together and succeed in boosting wages established by long-term labor contracts, then

A) there is a leftward shift in just LRAS. B) there is a leftward shift in both LRAS and SRAS. C) there is a rightward shift in just SRAS. D) there is a rightward movement along the SRAS curve.

Economics

A monopsonistic employer will pay a wage rate

A) less than the labor's MRP. B) greater than the labor's MRP. C) equal to the labor's MRP. D) equal to MFC.

Economics