Which of the following is an example of an externality?
a. A paper mill dumps waste into the river.
b. A neighbor's loud music disrupts sleep.
c. A drunk driver causes an accident that injures another person.
d. All of the above are correct.
d
Economics
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Other things constant, which case would tend to reflect the highest elasticity of demand for eggs?
A) A restaurant that spends 1% of their budget on eggs B) A restaurant that spends 2% of their budget on eggs C) A restaurant that spends 5% of their budget on eggs D) The question can't be answered without information on the price of eggs.
Economics
Social Security is used to redistribute income.
A. True B. False C. Uncertain
Economics