Which of the following is true?
a. The private market provides too much of goods that generate external benefits
b. In the case of external benefits, if we could add the benefits that are derived by non-paying consumers, the supply curve would shift to the right, increasing output.
c. In the case of external benefits, a tax equal to external benefits would result in an efficient level of output.
d. In the case of public goods, when people act as free-riders, some goods having benefits greater than costs will not be produced.
d
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At the most profitable level of production, a firm's marginal cost will be _____ the market price.
(A) Set by (B) Less than (C) Equal to (D) Greater than
Which one of the following statements is the MOST accurate? By the year 1932, the United States
A) and Canada alone held more than 70 percent of the world's monetary gold. B) and Germany alone held more than 70 percent of the world's monetary gold. C) and Britain alone held more than 70 percent of the world's monetary gold. D) Britain, and France alone held more than 70 percent of the world's monetary gold. E) and France alone held more than 70 percent of the world's monetary gold.