What are the four types of externality?
What will be an ideal response?
Externalities can be: a negative production externality, a positive production externality, a negative consumption externality, or a positive consumption externality.
Economics
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Refer to the table above. If at a price of $3 per loaf, the market supply of bread is 45 loaves, Seller 3's supply is:
A) 15 units. B) 24 units. C) 18 units. D) 20 units.
Economics
Under the perfectly competitive market structure, the demand curve of an individual firm is
A) perfectly inelastic. B) downward sloping. C) relatively inelastic. D) perfectly elastic.
Economics